At mid-morning, in the Asian market, the price of gold reached US$1,176.95 per ounce, surpassing the record price of US$1,173.50 on November 24.
Previously, the price of gold in the US market stood at US$1,169.2 per ounce.
On November 25, a rush of domestic gold transactions saw the price reaching VND28.7-28.9 million/tael. Compared to the same time on November 24, it rose by VND300,000/tael.
Representatives of major gold companies in Hanoi chalked gold price fluctuations up to the buying spree in the past few days.
With a cautious attitude shown by gold investors, gold stores on November 24 and early on November 25 narrowed the gap between the selling and buying prices to just VND100,000-150,000/tael.
However, by this morning, some businesses had begun to expand the difference between the selling and buying prices. While the selling price saw a controlled increase, the buying price remained intact or rose only slightly, later to VND300,000/tael.
The increase in the world’s gold prices are mainly due to the depreciation of the US dollar. In Tokyo, the exchange rate of EUR/US$ stood at US$1.5/EUR on November 25.