XINHUA – Vietnam’s gold prices, which reached a record high last week, may continue to rise in the short term, but the upward trend will be hard to sustain in the medium and long term, Vietnam News Agency cited experts saying.
According to the report, selling prices are high due to several factors in the domestic market, including the Vietnamese dong/US dollar exchange rate, the global rising trend in gold prices, and seasonal factors such as the end-of-year consumption cycle.
Experts forecast that the gold prices will grow further in the short term. However, the current rising pace would not continue in the medium and long term because the price difference between domestic and global gold has reached VND15 million (USD619.32) per tael.
The gold prices set a new record of VND77.4 million per tael in the trading session on December 22.
