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.
In recent days, buyers have been accounting for 80 per cent of all customers at Bao Tin Minh Chau Jewellery and Gemstone Company, one of Viet Nam’s biggest gold trading companies.
SJC''s gold price experienced a sudden rise of VND170,000 (US$7.6) per
tael (1.02 ounces) compared with the previous session, pushing the
selling price to VND36.07 million ($1,613) per tael,
Domestic gold demand is expected to surge sharply today as Vietnamese
prefer buying the metal to mark the God of Wealth Day–the tenth day of
the Lunar New Year.
Gold companies experienced an increase of trading volume for gold on
Thursday when the local prices for gold bottomed out to a three-year low
at around VND35.2million (US$1,675) per tael.