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| Gold Sees Surge as Fed Announces ‘Unlimited QE'.— Photo pakalertpress.com |
HA NOI (Biz Hub) — Gold prices in the local market soared this morning as the world's gold price rallied after the US Federal Reserve announced that it would leave its monthly bond purchases unchanged at US$85 billion a month, in a decision that surprised the market.
In Viet Nam, Saigon Jewellery Company (SJC) posted gold prices of VND37.78-38.08 million ($1,799-1,813) on its website at noon, as much as VND580,000(US$27.6) higher per tael than Wednesday's prices.
Spot gold traded near a one-week high on Thursday, according to Reuters.com. On the kitco.com trading floor it was $1,361.4 per ounce, or $1,640.4 a tael, leaving gold prices in Viet Nam $173 per tael higher than global rates.— VNS