Domestic gold prices surpassed the VND15 million/tael mark on October 27 to hit a record high of VND15.12-15.13 million.
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Domestic gold prices surpassed the VND15 million/tael mark on October 27 to hit a record high of VND15.12-15.13 million.
A tael of SJC gold was traded at VND15.12 million, an increase of 22 percent compared to January 2007. However, the constant hikes in price slowed down transactions on the market.
Despite the strong increase, the gold price on the domestic market is VND240,000 lower than on the world market which hit a new record high of US$785.4 per ounce for the first time in 28 years.
This is on the back of a new record high for oil (more than US$92 per barrel), the continued weakness in the dollar, the US economic situation, and political tension between the US and Iran, and between Turkey and Iraq.
(Source: VOV)
