Gold jumps to VND50.37 million per tael

Although the global gold price remained below US$1,800 an ounce, the price of gold in Vietnam continued to escalate on July 8, making a new record high.
Saigon Jewelry Company bought gold at VND49.95 million per tael and sold at VND50.37 million per tael, an increase of VND250,000 per tael in buying price and VND200,000 per tael in selling price compared to the previous day, at 4.30 p.m. in Ho Chi Minh City.

At the same time in Hanoi, Bao Tin Minh Chau Jewelry Company bought SJC gold at VND50.02 million per tael and sold at VND50.17 million per tael, an increase of VND240,000 per tael in buying rate and VND140,000 per tael in selling rate.

Although the price of gold hit the highest level in history, the gap between the buying and selling rates was just VND300,000-VND400,000 per tael.

By Nhung Nguyen – Translated by Thanh Nha

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