HANOI, May 7 (Xinhua) -- Vietnam's gold price set a new record high on Tuesday, reaching 87 million Vietnamese dong (3,425 U.S. dollars) per tael, local media reported.
At 9:30 a.m. local time Tuesday, Saigon Jewelry Company (SJC) Limited reported an increase of 500,000 dong per tael, with SJC gold now trading at 84.8 million to 87 million dong per tael.
DOJI quoted SJC gold at 84.6 million to 86.1 million dong per tael, up 300,000 dong per tael from Monday's trade.
The gold ring prices slightly increased by 150,000 to 250,000 dong on Tuesday, Vietnam News Agency reported.
A tael equals 37.5 grams or 1.2 ounces.
Last Friday, the State Bank of Vietnam postponed the fourth gold auction as only one bidder submitted a tender. This was the third time the monetary authority has taken such action. ■
