Following the latest increase in world gold prices, the domestic gold prices spiked again on Thursday and reached their highest levels in several weeks.

The price of Sai Gon Jewellery Co (SJC) gold early yesterday morning went up to 38 million VND per tael.  As a result, the gap between the domestic and world gold price was over 3.2 million VND per tael.

At 2.30pm, SJC gold could be purchased at their Da Nang branch for 38.12 million VND per tael, and sold to them for 37.8 million VND.  Since late on 18 September, the buying price has risen by 670,000 VND per tael, whilst the selling price increased by 530,000 VND.

Yesterday morning, Da Nang’s black market listed selling and buying prices for USD at 21,180 VND and 21,100 VND.  Local commercial banks, including Vietinbank, Techcombank and ACB, offered buying rates for USD to VND ranging from 21,070 VND to 21,180 VND.

The average inter-bank exchange rate for 1 USD stayed at 21,036 VND.