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Gold marches south

Price of gold in Vietnam fell by VND200,000 a tael (1.2 ounces) over the previous day on June 29 although global price plunged sharply on negative news out of the European summit meeting. Saigon Jewelry Company, Vietnam’s biggest gold processer and trader, bought the metal at VND41.53 million and sold at VND41.68 million as of 10.45am...

Posted date: Sat, 30 Jun 2012 - From: Gold News

Local gold prices hovered around VND41.75 million/tale threshold on Thursday morning

Local gold prices hovered around VND41.75 million/tale threshold on Thursday morning following suit of a pause in global market ahead of EU summit, local premium continued to stay high at VND2 million a tael. Hanoi SJC gold is quoted at VND41.65 million/tael for bid and VND41.75 million/tael for ask, respectively as of 10:00 local...

Posted date: Thu, 28 Jun 2012 - From: Gold News

State Bank to halt all gold lending

The State Bank of Viet Nam on Monday issued a directive requiring credit institutions to comply with a deadline to halt mobilisation and lending in gold from November. Accordingly, institutions will issue only short-term gold certificates to pay customers upon request, termination of which falls on November 25. Before issuance, institutions...

Posted date: Wed, 27 Jun 2012 - From: Gold News

Local gold prices lost VND80,000/tael to VND41.75 million/tale threshold on Wednesday

Local gold prices lost VND80,000/tael to VND41.75 million/tale threshold on Wednesday following suit of a fall in global market, and local premium continued to stay high at VND2.1 million a tael. Hanoi SJC gold is quoted at VND41.64 million/tael for bid and VND41.74 million/tael for ask, respectively as of 10:00 local time. Thang Long gold,...

Posted date: Wed, 27 Jun 2012 - From: Gold News

VP Telecom abandons Nokia, joining hands with Samsung

VP Telecom has reportedly decided to “abandon” Nokia for fear about the dark future of the mobile phone manufacturer, to become the distributor of Samsung products, according to Buu Dien. Prior to that, local newspapers reported that Nokia had chosen three distributors for the three regions in Vietnam. FPT would distribute Nokia products in...

Posted date: Tue, 26 Jun 2012 - From: Gold News

Gold rose to VND41.85 million/tael on Tuesday morning

Vietnam gold rose by VND190,000/tale from yesterday close to VND41.85 million/tael on Tuesday morning, world gold prices held steady above $1,580/ounce. SJC Hanoi quoted at VND41.75 million/tael for bid and VND41.85 million/tael for ask, respectively as of 10:15 am, Hanoi time. Sacombank-SBJ gold was listed at VND41.77-VND41.83 million/tael...

Posted date: Tue, 26 Jun 2012 - From: Gold News

Gold volatile, dollar down

Price of gold in Vietnam climbed to VND42 million a tael (1.2 ounces) on June 26 as global price jumped strongly at the trading session in New York last night on renewed concerns over the debt crisis in Europe after Spain and Cyprus officially asked for bailout from the European Union. Saigon Jewelry Company, Vietnam’s biggest gold processer...

Posted date: Tue, 26 Jun 2012 - From: Gold News

SBV calls for end to use of gold for savings and lending

The State Bank of Vietnam (SBV) has issued a circular to require credit organisations to stop allowing the depositing and lending of gold. Credit organisations will however be allowed to issue short-term gold certificates to the value of the gold deposits until November 25 this year when the issuance will terminate. Credit organisations are...

Posted date: Tue, 26 Jun 2012 - From: Gold News

Gold price in local market dropped by VND300,000 a tael

Price of gold in Vietnam only dropped by VND300,000 a tael (1.2 ounces) on June 22 although global price experienced the steepest decline since late February after Moody’s Investors Service downgraded credit ratings of 15 biggest banks in the world. Saigon Jewelry Company, Vietnam’s biggest gold processer and trader, bought the metal at...

Posted date: Mon, 25 Jun 2012 - From: Gold News

Illegal gold trading floors continued to flourish in Vietnam

Even two years after the ban, gold trading floors continued to flourish in Vietnam, attracting more and more investors. Observers said trading in these floors were held via internet and often allow investors making transactions with the high leverage ratio of 1:100, 1:500 or 1:1000 In order to become the member of the trading floor, one...

Posted date: Mon, 25 Jun 2012 - From: Gold News

Gold edged up by VND70,000/tale to VND41.82 million/tael on Monday morning

Vietnam gold edged up by VND70,000/tale from yesterday close to VND41.82 million/tael on Monday morning, following world gold prices. SJC Hanoi quoted at VND41.72 million/tael for bid and VND41.82 million/tael for ask, respectively as of 10:07 am, Hanoi time. Sacombank-SBJ gold was listed at VND41.74-VND41.80 million/tael for bid and ask,...

Posted date: Mon, 25 Jun 2012 - From: Gold News

Gold almost unchanged, moving around VND42.23 million/tael on Wednesday morning

Vietnam gold almost unchanged from yesterday close, moving around VND42.23 million/tael on Wednesday morning. World gold inched up in Asia trade this morning. SJC Hanoi quoted at VND42.15 million/tael for bid and VND42.23 million/tael for ask, respectively as of 10:33 am, Hanoi time. Sacombank-SBJ gold was listed at VND42.17-VND42.22...

Posted date: Wed, 20 Jun 2012 - From: Gold News

Gold makes small correction

Price of gold in Vietnam slid slightly after going up at the beginning of the trading session on June 18 as global price dropped due to investors’ cautiousness ahead of a US Federal Reserve meeting on Wednesday. Saigon Jewelry Company, Vietnam’s biggest gold processor and trader, bought the metal at VND42.04 million and sold at VND42.24...

Posted date: Tue, 19 Jun 2012 - From: Gold News

Gold edged up to VND42.32million/tael on Tuesday morning

Vietnam gold edged up to VND42.32million/tael on Tuesday morning, following the world suit. SJC Hanoi quoted at VND42.22 million/tael for bid and VND42.32 million/tael for ask, respectively as of 9:18 am, Hanoi time. Sacombank-SBJ gold was listed at VND41.20-VND42.30 million/tael for bid and ask, respectively. Rong Thang Long gold, a...

Posted date: Tue, 19 Jun 2012 - From: Gold News

Gold edged up to VND42.26 million/tael on Monday morning

Vietnam gold edged up to VND42.26 million/tael on Monday morning. World gold prices slid. SJC Hanoi quoted at VND42.16 million/tael for bid and VND42.26 million/tael for ask, respectively as of 10:52 am, Hanoi time. Sacombank-SBJ gold was listed at VND42.18-VND42.24 million/tael for bid and ask, respectively. Rong Thang Long gold, a...

Posted date: Mon, 18 Jun 2012 - From: Gold News