Local gold prices continued their upward spiral and surged by up to VND420,000 per tael today, June 24, following the sharp rise in the global price of the metal at US$1,773 per ounce, the highest in eight years.
Saigon Jewellery Company (SJC) quoted its yellow metal price at VND48.87 million per tael to buy and VND49.27 million per tael to sell this morning, up VND200,000-230,000 per tael against the previous day.
After three adjustments to gold prices within five minutes, Eximbank was selling a tael of SJC gold at some VND49.2 million and buying it at VND48.9 million.
Meanwhile, in Hanoi City, the Bao Tin Minh Chau Jewellery Company raised the buying price by VND370,000 to VDN48.86 million per tael and hiked the selling price by VND420,000 to VND49.46 million per tael.
In the morning, the selling price of gold at the Doji Group stood at VND49.15 million per tael, soaring by VND250,000 against the previous day. It was bought at VND48.9 million per tael, up VND220,000.
In the global market, the gold price grew by US$15 per ounce over the previous session at US$1,773 on June 24, as the demand for the yellow metal has been surging these days, Thanh Nien newspaper reported.