Local gold prices up
Local gold prices up
Domestic gold prices surged to over VND42 million per tael today, November 1, following the U.S. Federal Reserve’s interest rate cuts to support the economy, the local media reported.
Saigon Jewelry Company (SJC) quoted its gold price at VND41.82 million per tael for buying and VND42.1-VND42.12 million per tael for selling, up VND140,000 per tael for buying and VND120,000 for selling against the previous session.
Prices of other 9999 gold products were VND42.27-VND42.37 million for selling and VND41.82 million for buying.
Phu Nhuan Jewelry Company (PNJ) hiked the selling price to VND42.1 million per tael and the buying price to VND41.9 million.
On the Hanoi market, SJC-branded gold was priced at VND41.8 million per tael for buying and VND42.14 million for selling, up VND190,000 against Thursday.
Meanwhile, Hanoi-based Doji Group bought gold at VND41.9 million per tael, up VND200,000 versus the previous session, and sold it at VND42.1 million per tael, up by VND250,000.
The price of the yellow metal on the global market stood at US$1,513 per ounce on November 1, rising over US$7 versus the previous session as the Fed, on Wednesday, cut interest rates for the third time this year to help sustain U.S. growth, contributing to the increase in gold prices.
