Domestic gold price edges up

Hanoi (VNA) - Domestic gold prices on April 14 increased by 10,000-20,000 per tael
(a tael equals 1.2 troy ounce) against late last week to about 19.60 million VND
(1,103 USD), as gold inched up to 882.45 USD per ounce on the global market.

Gold traded at the Phy Quy Jewelry Co. for 19.54-1959 million VND per tael and at
the Sai Gon Jewelry Holding Co. for up to 19.62 million VND, up slightly from
last week's 19.58 million VND.

Sacombank branded gold leaf was being traded at 19.50-19.58 million VND per tael,
while Phu Nhan Jewelry Co. listed PNJ-DAB gold leaf at 19.52-19.57 million VND.

On gold exchanges, gold orders were matched at about 18.93-19.03 million VND per
tael with increasing volumes.

"I think the increasing demand for gold domestically will not last long as the
current domestic gold price is still 500,000 VND (28.17 USD) per tael higher than
global prices," said Van Son, owner of the Dai Phong Gold Shop in Hai Phong.

But Tran Quoc Quynh, senior member of the Vietnam Gold Trading Association, told
Vietnam News that gold would continue rising on the world market and would reach
1,000 USD per ounce again.-Enditem