Domestic gold price hits over 1 month-peak

Gold prices in the domestic market bounced back to reach over 1 month-peak on January 17 following the global trend.

The SJC-branded gold bars were sold by the Saigon Jewelry and Gem Stone Co. (SJC) and the four State-owned commercial banks - Agribank, BIDV, Vietcombank and Vietinbank - for VND87.3 million ($3,415) per tael.

The selling price surged VND300,000 ($11.7) compared to the two previous day.

One tael equals 37.5 grams, or 1.2 ounces.

In the global market, the gold price exceeded $2,700 per ounce on January 16 and soared to $2,715 per ounce on January 17, equal to VND83.6 million per tael.

At this level, gold prices in Vietnam stand at around VND3.7 million ($144) a tael higher than the global price.