Local gold prices rebound following global trends

HA NOI — Domestic gold prices yesterday rebounded by VND150,000-200,000 to around VND17.70 million (US$1,077) per tael (a tael is equivalent to 1.2 ounces), and prices were expected to stay up in the coming days. Given the increase, the level was the lowest since May 2’s VND17.20 million. The increase was reportedly due to global gold price rises. Sai Gon Jewelry Co (SJC) yesterday listed buy/sell prices at VND17.70-17.77 million ($1,075-1,080) per tael in Ha Noi and HCM City, from VND17.60-17.70 per tael ($1,069-1,075) over Saturday’s price. Ha Noi-based Bao Tin Minh Chau Jewelry Co (BTMC), meanwhile, listed prices at VND17.72-17.84 million ($1,077-1,084) per tael. Phu Nhuan Jewellery Co (PNJ) in Ha Noi listed selling/buying prices for PNJ-DAB brand gold at VND17.65-17.79 million per tael ($1,073-1,081). On the global... [read full story]