Domestic gold price climbs to three-week high

Gold prices in the domestic market jumped to a three-week high on January 9 as global bullion continued its rally.

The four State-owned commercial banks - Agribank, BIDV, VietinBank, and Vietcombank – and the Saigon Jewelry and Germ Stone Co. (SJC) sold SJC-branded gold bars at VND86 million ($3,365) per tael on the day, up by VND500,000 ($19.5) per tael compared to the previous day.

One tael equals 37.5 grams, or 1.2 ounces.

Prices in the global market increased to $2,659 an ounce on the same day, or nearly VND82 million per tael.

At this level, gold price in Vietnam is higher than the global price around VND4 million ($156) a tael.