Gold prices break VND55 million ceiling to reach record high
VOV.VN - Local gold prices maintained their upward trajectory to pass historic highs on the morning of July 24, exceeding VND55 million per tael following the sharp increase in the global price of gold, which is currently close to US$1,900 per ounce.
At the opening of the morning trading session, the Saigon Gold and Jewelry Company listed each tael of SJC gold at VND53.50 million and VND54.82 million for buying and selling, respectively.
In order to reflect global trends, at 8:50am the gold firm quoted SJC gold prices at VND53.9 million per tael for buying and VND55.09 million per tael for selling, therefore breaking all previous records.
Bao Tin Minh Chau, one of the nation’s leading gemstone brands, moved to record its SJC gold price at 11:45am at between VND54.40 million and VND55.40 million per tael, marking rises of VND1.2 million per tael in terms of both the buying and selling prices in comparison to yesterday’s trading session.
This comes after the price of the precious metal rapidly increased in the global market.
Moreover, the world’s gold prices at 6am on July 24 hovered around US$1,888 per ounce, representing a rise of US$20 per ounce against the previous day.
Despite this growth, prices showed a slight decrease of 0.10% to US$1,884.8 per ounce. With 6:30am seeing global gold prices on Kitco.com drop by 0.39% to US$1,882.95 per ounce, marking a decrease after several days of consecutive increases.
Furthermore, gold rose beyond the US$1,800 per ounce mark largely as a result of bulls on the commodity having increasing concerns regarding a new wave of novel coronavirus infections as well as increasing stimulus measures in an effort to mitigate the negative economic effect of the pandemic, according to experts.
In terms of the forex market, the Joint Stock Commercial Bank for Foreign Trade of Vietnam, also known as Vietcombank, listed the exchange rate at VND23,060 per US$1 for buying and VND23,270 per US$1 for selling on July 24, recording no change from the previous trading session.