On Feb 7, Saigon Jewelry Co. (SJC) gold price reached VND10.74 million (US$675.89) a tael (1.3 ounce). This is an increase of VND490,000 a tael compared to the end of January.
Despite a continuous increase in gold price, the purchasing power of gold products in the domestic market on Jan 7 is still at high level.
The gold price on the global market reached US$570 an ounce, equal to VND11.037 million a tael.
Thus, the domestic gold price was VND297,000 a tael (including the customs and processing taxes) lower than the global one.