The bid and ask prices of gold bullion produced by Saigon Jewelry Co, Vietnam’s biggest gold trader, were quoted at VND43.8 million and VND44.1 million a tael.
The prices of other brands, like SBJ of Sacombank Jewelry Co, Phoenix PNJ of Phu Nhuan Jewelry Co, AAA and Thang Long gold dragon, followed suit with prices ranging from VND43.7-VND44 million a tael.
On the world market, spot gold traded in Asian market this morning edged up $4.9 to $1,663.80 an ounce. On Wednesday night, the gold futures on the Comex floor for February increased $4.3 to close at $1,659.90 an ounce.
Ending the day of trading, spot gold on Comex rose 0.4 percent to $ 1,658.15 / ounce.
Gold prices maintained its upward trend after Goldman Sachs announced profit of $1.84 per share, higher than the projected $1.24 per share.
But investors remain worried about the prospect after gold prices precious metals prices fell 10 percent last month. Besides, economic advisors have warned about the possibility of termination of the rise of gold prices after a decade-long rally.
Frank McGhee, head of trading of Integrated Brokerage Co. LLC, said gold could be sold off if China does not have any economic stimulus package to spur its growth engine.
But consultancy firm GFMS Thomson Reuters, specializing at issuing the reference statistics for the gold market , yesterday forecast gold price will shoot up in late 2012, exceeding $2,000 an ounce then or early 2013.
The world's largest gold fund SPDR Gold Trust has been inactive, steadily holding 1,255.67 tonnes of gold worth $66.5 billion.