Domestic gold prices exceeding VND90 mln bechmark

The selling prices of gold bars in the domestic market exceeded the benchmark of VND90 million ($3,534) per tael on February 4.

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 VND90.6 million ($3,558) per tael, up by VND800,000 ($31.4) per tael compared to the previous day.

One tael equals 37.5 grams, or 1.2 ounces.

In the global market, the gold prices increased to $2,816.8 an ounce, or nearly VND86.1 million per tael.

As a result, gold prices in Vietnam stand at around VND4 million ($157) a tael higher than the global price.