This comes after the trading session on November 16 witnessed the Saigon Gold and Jewelry Company quote its SJC gold price at VND60.65 million for buying and VND61.37 for selling in Hanoi.
Elsewhere, trading in Ho Chi Minh City saw buying and selling prices for gold bars quoted by the company at VND60.65 million and VND61.35 million per tael, respectively.
These latest price changes represent rises of VND550,000 for buying and selling each in comparison with the prices recorded on November 15.
Furthermore, Doji Group in Hanoi listed each tael of SJC gold at between VND60.45 million and VND61.15 million for buying and selling, marking respective increases of VND650,000 and VND550,000 compared to the prices recorded on the previous day.
Gold in Ho Chi Minh City was priced at between VND60.6 million and VND61.1 million per tael for buying and selling, showing increases of VND500,000 and VND400,000 per tael in terms of buying and selling from the prior day.
In terms of a global perspective, the trading session on November 16 witnessed the world’s gold prices hover at approximately US$1,864 per ounce.
Moreover, gold prices on November 15 reached US$1,866.03 per ounce, the highest level seen over the past five months due to people becoming increasingly worried about inflation, with gold viewed as a safe haven asset that can be bought.
In relation to the local forex market, the State Bank of Vietnam moved to adjust the exchange rate of major foreign currencies, with US$1 now being exchanged for VND23,107.