Early this morning, Saigon Jewelry Company Limited (SJC) listed its buying and selling prices at VND60.6 million and VND62.2 million per tael, respectively.

The domestic prices of gold have continued to shoot up on the morning of August 7 to exceed VND62 million per tael.

The difference between buying and selling price has now widened to VND2 million per tael.

In the world market, gold prices are hovering around US$2,066 per ounce, equivalent to VND58 million per tael.

In the trading session this morning, world gold price set an all-time peak when it climbed to US$2,078 per ounce, equivalent to VND58.3 million per tael, which was still VND4 million lower than the domestic price of gold.

According to experts, the gap in the domestic and world prices of gold was widened from VND1-2.5 million per tael at the end of July to VND4 million per tael due to supply shortages.

Gold prices in both the domestic and the world market are forecast to continue to rocket higher and set new records, and may even climb to US$3,000 per ounce in the next year.

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Source: NDO