Gold prices jump

The Saigon Jewelry Company announced Monday its gold price increased by VND250,000 (US$14.7) per tael to VND17.1 million ($1,000) from Saturday’s closing price of VND16.85 million ($994).

Gold prices on the global market also rose $16.85 per ounce Monday to $817.85 per ounce. A tael is 1.2 ounces. The Vietnam Export-Import Commercial Joint Stock Bank, known as Eximbank, said the global gold price had risen as a result of increased demand. About 840 tons of gold will be consumed globally in the year’s fourth quarter, as some Asian countries, including India and China, start to hold festivals. Reported by Thanh Xuan