The Saigon Jewelry Company (SJC) said its gold price increased to VND17.04 million (US$1,003) a tael, VND370,000 ($21.70) per tael higher than Wednesday’s price.
Gold prices on the global market Thursday also rose, gaining $40 an ounce from Wednesday to $822 per ounce. A tael is 1.2 ounces.
The domestic gold price is now about VND200,000 ($11.70) per tael higher than the global price.
The Vietnam Export-Import Commercial Joint Stock Bank, known as Eximbank, said the global gold price had risen as the world’s oil price increased slightly, while the value of the US dollar against other currencies decreased.
An SJC representative said the sudden increase of gold prices made people rush to sell gold, with about 7,000 taels of gold sold Thursday.
