Domestic gold prices reached a figure of approximately VND49.6 million per tael in some places on July 1, representing the highest figure this year.

The news comes after Saigon Gold, Silver and Gemstone joint stock company quoted its gold price this morning at VND49.15 million per tael for selling and VND49.53 million per tael for buying, representing increases of VND110,000 and VND140,000, respectively, in comparison with the previous day’s prices.

Elsewhere, the DOJI Gold and Gems Group raised the buying price by VND150,000 to VND49.3 million per tael, in addition to hiking the selling price by over VND200,000 to VND49.5 million per tael.

Moreover, the Phu Quy Gold, Silver and Gemstone Group began to trade their gold at VND49.25 million per tael for buying and VND49.6 million per tael for selling, figures that are between VND110,000 and VND280,000 higher than the previous day.

The fluctuation in domestic gold prices is occurring due to the impact of the global market, with the night of June 30 seeing gold prices rise sharply by 0.5% to US$1,779.44 per ounce.

Which the number of novel coronavirus cases continues to rise globally, financiers are increasingly seeing gold as a safe investment, with this being the main factor behind the sharp increase in the price of the precious metal.

In terms of the forex market, the VND/USD exchange rate stood at VND23,235 per US$1 on July 1, a slight rise of VND6 compared to the previous day.

The Joint Stock Commercial Bank for Foreign Trade of Vietnam, more commonly known as Vietcombank, listed the VND/USD exchange rate at VND23,120 per US$1 for buying and VND23,300 per US$1 for selling, indicating no daily changes.