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Gold price gains in eighth session

Thursday, 18/11/2021 GMT+7
Gold price gains in eighth session
A person holds a tael of gold at a jewelry shop in Ho Chi Minh City. Photo by VnExpress/Quynh Tran

Vietnam’s gold prices climbed up for the eighth straight session Wednesday even as global rates steadied because of rising dollars.

Saigon Jewelry Company (SJC) sold its gold at VND62.15 million ($2,727.65) per tael in the morning, up 0.57 percent from Tuesday afternoon. A tael equals 37.5 grams or 1.2 ounces.

This means gold prices are 0.24 percent away from the previous historic peak last year.

million VND per taelVietnam's gold priceJan 2Jan 9Jan 13Jan 26Feb 5Feb 18Feb 23Mar 1Mar 15Mar 30Apr 6Apr 10Apr 27May 13May 29Jun 3Jun 20Jul 6Aug 1Aug 30Sep 28Oct 20Nov 2Nov 9Nov 15545658606264

Since early November, gold has gained 6.6 percent.

Vietnam’s gold is now VND11.25 million more expensive than global rates.

Globally, spot gold rose 0.2 percent to $1,854.39 per ounce Wednesday, a marginal gain as a jump in U.S. retail sales kept the dollar close to a 16-month high.

U.S. retail sales jumped in October, topping expectations, in an indication that high inflation was not yet dampening spending, even as worries about the rising cost of living sent consumer sentiment tumbling to a 10-year low in early November, Reuters reported.

Source: e.vnexpress.net

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