Gold breaks all-time records as prices continue to soar
VOV.VN - Domestic gold prices continued to reach new highs, rising to VND52.9 million per tael on July 22, representing their highest price to date.
News regarding the continued price hike comes following Saigon Gold, Silver and Gemstone joint stock company announcing its SJC gold price at 9:15am as VND51.8 million per tael for buying and VND52.9 million per tael for selling, marking rises of VND750,000 and VND1.4 million, respectively, from the previous day’s trading session.
Elsewhere, the opening trading session witnessed DOJI Gold and Gems Group increase their buying price by VND800,000 to VND52 million per tael, while simultaneously raising their selling price by VND1.4 million to reach VND52.8 million per tael.
This fluctuation in domestic gold prices can be attributable to the impact of the global market, with the evening of July 21 seeing gold prices undergo a rise of US$26.5 per ounce to reach US$1,850 per ounce.
With the number of novel coronavirus cases continuing to rise globally, financiers are increasingly viewing gold as a safe investment. This is the main factor behind the recent series of sharp increases in the price of the precious metal.
In the forex market, the Joint Stock Commercial Bank for Foreign Trade of Vietnam (as Vietcombank), listed the exchange rate at VND23,060 per US$1 for buying and VND23,270 per US$1 for selling on July 22, marking drops of VND10 per US$1 from the previous day’s trading.