VINACHEM

Local gold prices followed the international trend, soaring on September 7.

Gold rose early on Wednesday to a fresh two-and-a-half-week high after gaining nearly two per cent in the previous session, as disappointing US economic data reinforced expectations that the US Federal Reserve will keep rates on hold in September.

On the global gold trading floor kitco.com, gold increased by US$9.5 to reach $1348.9 per ounce (or $1,625 per tael).

In the local market, Sai Gon Jewellery Joint Stock Company added VND220,000 to each tael of SJC gold to reach VND36.56 million ($1,637), while gold companies Bao Tin Minh Chau and DOJI in the north and Phu Nhuan Jewellery in the south also added between VND280,000 and VND300,000 per tael.

In Ha Noi, DOJI saw more gold buyers in the day, who believed the yellow metal was gradually regaining the attention of local investors in Viet Nam.

Meanwhile, although the dollar tumbled in the global market, the greenback rate in the local market was stable. The buy/sell rates of the greenback in Vietcombank were VND22,260/VND22,330. In other commercial banks, such as BIDV, Vietinbank, Techcombank, ACB and Eximbank, the buying rates were between VND22,255 and VND22,280 and the selling rates were between VND 22330 and VND22,380, respectively. - VNN