SJC gold prices hit three month peak

The price of gold in Vietnam, following the global trend, rose to VND36.8 million/tael on May 15, the highest price it has traded at since February 18.

In the early morning hours of May 15, Saigon Jewelry Company Limited (SJC) listed the price at VND36.5-36.8 million/tael, up VND400,000/tael compared to the final transaction on May 14.

Leading financial analysts say the upward trend of the domestic gold prices is obviously due to the rise in the world’s gold prices, traded at US$1,305.7 per ounce, up US$13 per ounce against the previous day.

They also cite the uncertainty and concern over the disputes in the East Sea following China’s illegal installation of its drilling rig Ocean-981 in Vietnam’s waters as a potentially contributing factor.

(VOV)