Local gold prices soared to hit 47.7 million VND (2,053 USD) per tael on March 6 (Photo: VNA)Hanoi (VNA) - Local gold prices soared to hit 47.7 million VND (2,053USD) per tael (1,703.7 USD per ounce) on March 6.
Each tael of gold increased between 400,000 VND and 600,000 VND from its levelon March 5. The price gap between selling and buying was more than 1 millionVND.
At the beginning of the day, Doji was asking 47.7 million VND for each tael ofgold, while Sai Gon Jewellery Company (SJC) posted 47.25 million VND per tael. TheBao Tin Minh Chau gold firm listed its precious metal at 47.35 million VND eachin the selling prices.
Smaller shops were also asking for similar prices.
On the global market, gold prices inched higher and were poised for theirbiggest weekly gain since October 2011, as mounting worries over the economicfallout from the fast-spreading coronavirus drove investors towards thesafe-haven metal.
On the gold exchange Kitco, prices rose 2 percent to 1,677 USD per ounce (2,020USD per tael) on March 6 morning.
In the local market, Bao Tin Minh Chau recorded a surge in transactions in themorning with 55 percent buyers and 45 percent sellers. The firm said on itswebsite it was a good time for investors to trade gold to make a profit./.
VNA
