Gold price reaches record high

29/10/2007 -- 11:51 AM

Ha Noi (VNA) – The price of gold in Ha Noi exceeded 15 million VND per tael on October 28, the highest record so far. SJC gold traded at 15.07 million VND to 15.15 million VND a tael, soaring 390,000-400,000 VND compared with early last week. The price of SJC gold has seen a 22 per cent increase since the beginning of this year. Agribank’s Gold, Silver and Gemstones Company No. 1 Deputy Director Pham Thi Kim Lien said the sharp increase in gold price has slowed down the market even though the domestic gold price is still lower than the world price by 240,000 VND per tael. By the end of October 27, the world market gold price stood at 785.4 USD per ounce, the highest since 1980 when gold traded at 873 USD per ounce. Huynh Trung Khanh from the World Gold Trading Council in Viet Nam said this year’s gold price has increased slowly and may reach 800 USD per ounce in the near future. In the first three quarters of this year, Viet Nam imported 55 tonnes of gold materials, he revealed.-Enditem
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