Selling prices of gold rings also decreased VND50,000, to VND54.05 million per tael. A tael is equal to 37.5 grams or 1.2 ounces.

SJC gold prices are higher than the world average by some VND15.5 million per tael.

Gold bars are displayed at a gold jewellery shop in the northern Indian city of Chandigarh May 8, 2012.

According to Reuters, minutes from the U.S. Federal Reserve’ November meeting have potentially given gold an extra kick higher, enabling it to really push on from here if the data does allow for it, said Craig Erlam, senior market analyst at OANDA.

However, Kinesis Money analyst Rupert Rowling said in a note gold is now likely to continue trading sideways as investors position themselves for the middle week of December, which will first see the latest U.S. inflation figures followed by the Fed’s interest rate decision.

This year’s high interest rates have kept a leash on non-yielding gold’s traditional status as a hedge against inflation and other uncertainties.

Gold prices hit 3-month high

The Saigon Jewelry Company (SJC) hiked the price of gold by VND400,000 ($16.08) per tael to VND67.7 million Saturday morning.

Vietnam has “golden chance” to welcome new FDI wave

Vietnam has a “golden chance” to attract a new wave of foreign investment, especially to economic zones (EZs) and industrial parks (IPs), according to Deputy Minister of Planning and Investment Tran Quoc Phuong.

Gold prices fall to one-month low

Prices of gold bars branded SJC on Monday dropped VND250,000 ($10.67) to VND66.55 million per tael, the lowest in a month.

Gold prices see historic one-day drop

Vietnam’s gold prices saw one of the deepest daily plunges in their history, going down by VND4 million ($170) a tael Monday.

Winners of Golden Dragon Awards 2022 announced

VSIP, Gamuda Land Vietnam, La Vie, DHL-VNPT and Best Express Vietnam are among the winners of the 21st Golden Dragon Awards.

Source: VnExpress