Banking and Finance
Gold bar prices skyrocketing, jewellery gold prices stable
While the price of gold is skyrocketing, the price of jewellery gold remains stable. There are a lot of buyers, especially men, which has prompted producers to make specific products for these “new” clients.
Gold surges to all-time high
The price of gold at retail outlets in the city yesterday surged to VND21.32 million and VND21.38 million per tael for buying and selling respectively. A tael equals 1.2 troy ounces.
Banks raise interest rates on gold deposits
Many commercial banks have increased their interest rates on gold deposits and launched promotion programmes as the domestic gold price soars and depositors look to withdraw their gold to sell.
Gold soars to record high
Domestic gold prices yesterday shot up to a new high of VND20.66 million per tael while there was little change in global prices.
No danger of interest rate race, bank official says
Interest rates on mobilized capital offered by a number of commercial banks have tended to increase slightly over the past months, causing worry that an interest rate race may be on the horizon.