Local gold prices soar amid coronavirus spread
Local gold prices soar amid coronavirus spread
Domestic gold prices maintained their growth, exceeding VND44 million per tael today, February 10, the local media reported.
In HCMC, at 11 a.m., SJC-branded gold jumped by VND150,000 per tael against the previous session, at VND43.8 million for buying and VND44.3 million per tael for selling. In addition, 24K gold was quoted at VND44.5 million per tael for selling.
Phu Nhuan Jewelry Company (PNJ) bought gold bars at VND43.7 million per tael and sold them at VND44.1 million.
The rise in local gold prices was reported to be stronger than the growth in the price of global yellow metal.
At the start of the trading session, the global gold price stood at US$1,575 per ounce, up US$5 per ounce from the price quoted last weekend. At 11 a.m. (Vietnam time), the global gold price was US$1,570 per ounce.
Some experts and investors expect gold prices to continue their upward spiral this week amid fears of the coronavirus.
On the forex market, the State Bank of Vietnam posted the central reference exchange rate between the dong and the U.S. dollar at VND23,211, up VND10 per dollar against the previous session.
The U.S. dollar at local commercial banks was commonly priced at VND23,155 for buying and VND23,325 for selling, up by VND15 against the previous session.
