Vietnamese people rush to buy gold as prices skyrocket


Hanoi, May 11 (IANS): Jewelry stores in Vietnam have been crowded with customers looking to buy gold as prices kept soaring to an all-time high of over 90 million Vietnamese dong (3,536 U.S. dollars) in recent days, Xinhua news agency, quoting VnExpress, reported.

A store on Cau Giay street in capital Hanoi even had to stop accepting walk-in customers, only serving those who had already fixed an appointment, the newspaper reported Saturday.

Saigon Jewelry Company gold bullion price shot up 2.6 percent to 91.8 million dong (3,607 dollars) per tael on Friday morning after reaching a record 89.5 million dong (3,517 dollars) on Thursday afternoon.

Gold ring prices slightly increased by 1 percent to 76 million dong (2,987 dollars) per tael on Friday.

Since the central bank began auctioning gold bars in late April, the precious metal has seen its price skyrocket.

A total of 6,800 taels of gold bars have been successfully auctioned during two recent sessions in Vietnam.

A tael equals 37.5 grams or 1.2 ounces.

 

  

Top Stories


Leave a Comment

Title: Vietnamese people rush to buy gold as prices skyrocket



You have 2000 characters left.

Disclaimer:

Please write your correct name and email address. Kindly do not post any personal, abusive, defamatory, infringing, obscene, indecent, discriminatory or unlawful or similar comments. Daijiworld.com will not be responsible for any defamatory message posted under this article.

Please note that sending false messages to insult, defame, intimidate, mislead or deceive people or to intentionally cause public disorder is punishable under law. It is obligatory on Daijiworld to provide the IP address and other details of senders of such comments, to the authority concerned upon request.

Hence, sending offensive comments using daijiworld will be purely at your own risk, and in no way will Daijiworld.com be held responsible.