Domestic gold price hits three-month hike

The selling price of SJC-branded gold bars in the domestic market jumped to a three-month high on July 23, reaching VND122.7 million ($4,665) per tael.

One tael equals 37.5 grams, or 1.2 ounces.

The price increased by VND700,000 ($26.6) per tael compared to the previous day.

The selling price of gold rings also kept upward trend, rising by VND200,000 - 900,000 ($7.6 – 34.2) per tael.

Meanwhile, in the global market, the gold prices dropped nearly 0.2% to $3,424.8 per ounce on the same day.

At this level, gold price in Vietnam is higher than the global price around VND12.91 million ($490) a tael.