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Updated : 5:54 PM, 11/06/2009
Gold price surpasses VND25 mil/tael threshold
Domestic gold prices on November 6 suddenly surpassed the VND25 million/tael threshold while the world gold price stayed at above US$1,091/oz. 

The surge is being attributed to a sharp increase in the demand for gold while the supply is being tightened.

At noon, gold prices at several major companies in Hanoi and HCM City surpassed VND25 million/tael, up VND250,000/tael from this morning’s figure.

In Hanoi, the gold price at Phu Quy Jewelry and Gem Stones Company and Bao Tin Minh Chau Jewelry Company remained at 24.94 mil/tael (purchase price) and VND25mil/tael (selling price).

In HCM City, the SBJ gold price at Saigon Commercial Bank (Sacombank) was VND24.89 million/tael (purchase) and VND24.97 million/tael (selling). The purchase price of SJC, listed by Saigon Jewelry Holding Company, was VND24.88 million/tael while the selling price was VND24.98 million/tael.

It is predicted that the world’s gold price will remain steady until the new trend of the US dollar exchange rate is announced.

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