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Gold soars to above VND59 million per tael

SGGP
Along with the rising momentum of the global gold price, the price of gold in Vietnam surpassed VND59 million per tael on August 5 to make a new record.
Saigon Jewelry Company bought gold at VND57.85 million per tael and sold at VND59.1 million per tael, an increase of VND1.02 million per tael in buying rate and VND1.1 million per tael in selling rate compared to the previous day at 4 p.m. in Ho Chi Minh City.

At the same time in Hanoi, Bao Tin Minh Chau Jewelry Company listed the price at VND57.95 million per tael for buying and VND58.75 million per tael for selling, up VND1.13 million per tael in buying rate and VND1.1 million per tael in selling rate.

In the global gold market, the precious metal was traded at US$2,014 an ounce at 9 a.m. Vietnamese time, an increase of nearly $40 an ounce compared to the previous trading session. At night on August 4, the heavy metal sometimes exceeded an all-time high to $2,031 an ounce.

Currently, after conversion, the global gold price was equal to VND56.5 million per tael, lower than the domestic gold price by VND2.5 million per tael.

VN-Index gains nearly 11 points

Vietnam’s stock market performed positively on August 5 with many pillar stocks advancing. Of which, banking stocks and the group of stocks that benefits from the wave of public investment also rallied robustly, urging the VN-Index to surge by nearly 11 points. Particularly, HPG climbed 4.8 percent; PLC jumped 5.7 percent; HT1 mounted 4.7 percent; C32 edged up 2.6 percent.

The VN-Index extended its winning streak to a third trading session, strengthening 10.23 points, or 1.24 percent, to close at 837.8 points with 300 stocks increasing, 78 decreasing, and 62 remaining unchanged. The HNX-Index enlarged 1.52 points, or 1.35 percent, to 114.02 points.

Market liquidity improved significantly compared to the previous trading session and stood at a fairly high level with a total trading volume reaching 374 million shares, worth VND6.2 trillion. 

Foreign investors net bought more than VND15 billion in the whole market.

On August 5, the Hanoi Stock Exchange held an auction of VND6 trillion of Government bonds issued by the State Treasury for five-year, ten-year, 15-year, and 20-year terms. The auction mobilized VND5.755 trillion with interest rate decreasing for 5-year bonds and increasing for 10-year bonds.

By Nhung Nguyen, Quang Minh – Translated by Bao Nghi

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