Gold jumps again in market
Gold jumps again in market
Local gold prices followed international markets as they soared on August 10.
Gold rose early on Wednesday morning on international markets, holding gains from the previous session as the dollar fell, with investors weighing the likelihood of a Federal Reserve rate hike after a weak U.S. productivity report.
On the global gold trading floor kitco.com, gold increased by US$9.5 to reach $1350.1 per ounce (or $1,627 per tael).
Following this trend, VND200,000 ($8.9) was added to each tael of SJC gold to reach VND36.83 million in the Sai Gon Jewellery Joint Stock Company this morning.
Gold companies Bao Tin Minh Chau and DOJI in the north and Phu Nhuan Jewellery in the south rose even higher. Prices per tael of gold increased VND210,000 and VND220,000.
In Ha Noi, Bao Tin Minh Chau Gold and Jewellery posted a higher rate for buyers than sellers of the yellow metal this morning, at 60 per cent and 40 per cent, respectively.
Also in the global market on Wednesday, the greenback sagged against other currencies, such as the yen, the euro and Australian dollar, after reduced productivity data sapped some of the momentum it had gained from last week's robust U.S. jobs report.
In Viet Nam, the central bank reduced its reference rate by another 2 dong on each American dollar on August 10 when the greenback rates did not change appreciably in most commercial banks.
The buy/sell rates of the greenback in Vietcombank were VND22,260/VND22,330. In other commercial banks, such as BIDV Vietinbank, Techcombank ACB and Eximbank, the buying rates were between VND22,255 to VND22,280 and the selling rates were VND 22330 and VND22,380, respectively.
