Domestic gold continued smashing its record value

Hanoi (VNA) – Domestic gold continued smashing its record value, registering a
high of 26.85 million VND (1,491 USD) per tael, buoyed by speculation and the fast
increase of gold prices on the global market.

Gold gained more than 700,000 VND per tael (one tael is equal to 1.2 ounce) compared
to November 8 and almost 1.3 million VND per tael up from November 6. Gold dealers
in Hanoi and HCM City reported that sold gold volume was substantially
greater than the amounts bought, despite the high prices.

Sai Gon Jewellery Holding Co (SJC)’s branch in Hanoi listed the buying and
selling price at 26.55-26.85 million VND per tael, while SJC in HCM City
listed prices at 26.3-26.5 million VND per tael.

PNJ-DAB gold leaf at Phu Nhuan Jewellery Co (PNJ) was traded at about 26.3-26.4
million VND per tael.

Orders on gold exchanges in Hanoi – such as the ACB, SBJ and Vina VJC – were
matched at 23.68-24 million VND per tael in the morning.

Gold has gained 25 percent against the beginning of this year, mainly driven by the
persistent weakness of the US dollar.-Enditem