After declining to sell 20 tael of gold at VND60 million (US$2,596) each on August 7, investor Do Thu Hang now calculates she lost VND250 million because of that decision.
Local gold prices ped sharply after the weekend. At 10am on August 10, the prices were rated down nearly VND1 million ($43) from an hour before at VND59 million (US$2,540) per tael.
Gold prices soared near VND57 million (US$2,486) per tael (1.2 ounces) on the local market on first day of the week while the yellow metal also made its history in prices, hitting an all-time high.
On Tuesday, Saigon Gold and Jewelry Company listed each tael of SJC gold at VND50.82 million for buying and VNĐ51.20 million for selling, both up VND300,000 sides from a day before.
The prices of the yellow metal kept soaring in the local market on July 9, reaching VND50.55 million (US$2,195) per tael (1.2 ounces). The prices also went up in the global market.
More foreigners are buying apartments and investing in real estate in Viet Nam, especially in HCM City, with most of them coming from mainland China, Japan, Singapore and South Korea.
To develop the economy requires innovation and young entrepreneurs
should take the lead, Viet Nam Young Entrepreneurs'' Association chairman
Bui Van Quan said on an online talk show organised by Business Forum newspaper yesterday.
Deputy head of the Ministry of Industry and Trade''s Domestic Market
Department Tran Nguyen Nam has said domestic enterprises can still
compete in Viet Nam''s increasingly competitive retail market.