Public trading in gold has boomed lately. Over twenty ‘trading floors’ have sprung up. It’s unregulated, and many investors have taken big losses. Now the Government plans to bring order to the gold trading industry, according to sources quoted by Thoi bao Kinh te Saigon.
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HCM CITY The domestic gold price on Wednesday climbed to a record high of VND22.40 million (US$1,255) per tael (1.2 ounces) following an uptrend in global gold prices.
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On September 16, most gold shops in HCM City raised their price by VND380,000 over the Tuesday price to VND22.34-22.39 million per tael.
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The domestic gold price on September 16 climbed to a record high of 22.40 million VND (1,255 USD) per tael (1.2 ounces) following an uptrend in global gold prices.
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Domestic gold prices continued to surge by VND70,000 per tael as Saigon Jewelry Holding Co., or SJC, quoted gold prices at VND22.02 million and VND22.07 million per tael for buying and selling respectively on Monday. The precious metal has soared by nearly VND1 million per tael over the past ten days.
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HCMC – Gold drifted lower for the second day in a row on the domestic market yesterday after hitting an all-time high of VND22 million per tael on Tuesday.
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