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The gold price increased over 150,000 VND/ounce

Source: http://vnexpress.net
Last modified: May 22, 2009 08:33
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The domestic gold price in the morning of May 21 strongly increased. Banks such as ACB, Sacombank - SBJ listed gold price at 20.3 million VND/ounce, rising 150,000 VND/ounce compared to last afternoon; whereas, the purchase level only rose by 50,000 VND/ounce. The price of SJC gold bar (Sai Gon Jewelry Company - SJC) was listed at 20.26 - 20.34 million VND (buying - selling), rising 160,000 VND/ounce (buying) and 180,000 VND (selling) compared to the price at the end of May 20. Compared to the increase in last two weeks, domestic gold price showed the increase compared to world gold price. In the comparison with the world gold price not including tax and fee, domestic gold price was about 20,000 VND/tael higher than the world gold price. Although the supply and demand of gold were low levels; the market sentiment was the main element, making the gold price rise. On world gold market, the gold price strongly increased due to the optimistic information on the demand and the slip of USD currency after the gloomy report of Federal Reserve System (FED) about the economic growth rate in this country. At the end of the session in New York, gold price delivered in the evening of May 20 rose 12.2 USD/oz (1.3%), at 938.2 USD/oz. This increase trend lasted to the morning of May 21; gold price delivered in Asia reached 943 USD/oz at 9:50 am (Vietnam time), rising 4.8 USD/oz compared to the last session on May 20 in New York.


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