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Gold rose to VND41.57 million/tael on Tuesday morning

Vietnam gold rose by VND120,000 a tael from yesterday close to VND41.57 million/tael on Tuesday morning, a lower level compared with yesterday morning. World gold eased in Asia trade this morning. SJC Hanoi quoted at VND41.35 million/tael for bid and VND41.57 million/tael for ask, respectively as of 8:32 am, Hanoi time. SJC Sacombank-gold...

Posted date: Tue, 29 May 2012 - From: Gold News

Vietnam to float gold bar trading six months

Gold traders in Vietnam will have six months to trade in gold bars freely before being compelled to conduct the transactions at stores licensed by the State Bank of Vietnam (SBV). Gold traders will have six months to trade in gold bars freely The SBV stipulated the extension period in Circular No. 16/2012/TT- NHNN, issued on May 25. The...

Posted date: Mon, 28 May 2012 - From: Gold News

Gold price inched up over the weekend on May 28

Price of gold in Vietnam inched up over the weekend on May 28 thanks to slight rise in global price. Saigon Jewellery Company, Vietnam’s biggest gold processer and trader, bought the metal at VND41.35 million and sold at VND41.55 million as of 10.40am Vietnamese time. Hanoi-based Phu Quy Jewellery Company purchased SJC-brand gold at...

Posted date: Mon, 28 May 2012 - From: Gold News

Bank sets new standards for gold traders

The State Bank of Viet Nam issued last Friday a circular to guide implementation of Decree 24/2012 on managing gold trading. According to the decree, effective from May 25, the central bank will issue bullion trading licences to businesses that meet the following conditions: have a charter capital of at least VND100 billion (US$4.8 million),...

Posted date: Mon, 28 May 2012 - From: Gold News

Gold inched higher to VND41.79 million/tael on Saturday morning

Vietnam gold inched higher to VND41.79 million/tael on Saturday morning, following the world gold prices SJC Hanoi quoted at VND41.57 million/tael for bid and VND41.79 million/tael for ask, respectively as of 8:31 am, Hanoi time. SJC Sacombank-gold was listed at VND41.39-VND41.45 million/tael for bid and ask, respectively Rong Bao Tin...

Posted date: Sat, 26 May 2012 - From: Gold News

Non-SJC gold prices depressed following new regulation

While some gold shops have refused to buy non-SJC gold bullion from the people, others have tried to get it at lower prices, as the new regulation on gold market management has come into effect. Previously, the State Bank of Vietnam confirmed that Decree 24 on the management of gold trading activities did not discriminate between SJC (Saigon...

Posted date: Sat, 26 May 2012 - From: Gold News

Gold rose to VND41.35 million/tael on Friday morning

Vietnam gold rose by VND190,000 a tael from yesterday close to VND41.35 million/tael on Friday morning, a lower level compared with yesterday morning. World gold eased in Asia trade this morning after climbing in New York trade last night. SJC Hanoi quoted at VND41.13 million/tael for bid and VND41.35 million/tael for ask, respectively as of...

Posted date: Fri, 25 May 2012 - From: Gold News

Gold rose to VND41.52 million/tael on Thursday morning

Vietnam gold rose by VND360,000 a tael from yesterday close to VND41.52 million/tael on Thursday morning, world gold rebounded some gain in Asia trade this morning after dropping in New York trade last night. SJC Hanoi quoted at VND41.30 million/tael for bid and VND41.52 million/tael for ask, respectively as of 8:56 am, Hanoi time. SJC...

Posted date: Thu, 24 May 2012 - From: Gold News

Gold fell of VND42 million a tael threshold to VND41.46 million/tael on Wednesday morning

Vietnam gold fell of VND42 million a tael threshold to VND41.46 million/tael on Wednesday morning following the world gold prices. SJC Hanoi quoted at VND41.24 million/tael for bid and VND41.46 million/tael for ask, respectively as of 9:38 am, Hanoi time. SJC Sacombank-gold was listed at VND41.35-VND41.45 million/tael for bid and ask,...

Posted date: Wed, 23 May 2012 - From: Gold News

Gold trades below VND41.4 million

Price of gold in Vietnam fell by more than VND500,000 a tael (1.2 ounces) over the previous day, on May 23, after global price lost 1.5 per cent as expectation of a positive result for the EU summit meeting later in the day waned. Saigon Jewellery Company, Vietnam’s biggest gold processer and trader, bought the metal at VND41.7 million and...

Posted date: Wed, 23 May 2012 - From: Gold News

Gold now at the “T-junction”

The deadline for short term gold certificate issuance by credit institutions has been extended to November 25 instead of May 1 as previously scheduled. However, the latest decision by the State Bank still cannot clearly show how gold would be in the future, after the deadline November 25. Which way for gold? “Nothing new with the new...

Posted date: Mon, 21 May 2012 - From: Gold News

Gold makes sharp jump

Price of gold in Vietnam surged to VND41.6 million a tael (1.2 ounces) on May 18 as global price unexpectedly jumped by more than 2 per cent from a ten-month low at the trading session in New York last night. Saigon Jewellery Company, Vietnam’s biggest gold processer and trader, bought the metal at VND41.43 million and sold at VND41.63...

Posted date: Fri, 18 May 2012 - From: Gold News

Gold Trading on Offshore Accounts Can Be Allowed

Individuals and institutions can re-open their international gold accounts if they receive permission of the Prime Minister and are granted license by the SBV. The State Bank of Vietnam (SBV) has recently released the draft regulation to amend the ordinance on foreign exchange control, stipulating that individuals and institutions can open...

Posted date: Thu, 17 May 2012 - From: Gold News

Government at loss over gold price disparity

The gap between domestic and global gold prices remains large despite the Government's efforts, according to independent market experts. Experts said in April that the State Bank of Viet Nam issued a decree to restrict trade in gold bullion to stabilise the gold market, check hoarding and speculation, narrow the gap between the domestic and...

Posted date: Thu, 17 May 2012 - From: Gold News

Gold falls below VND41 million

Price of gold in Vietnam sank below VND41 million a tael (1.2 ounces), the lowest level since late July last year on May 16 while global price weakened due to concern over European sovereign-debt crisis. Saigon Jewellery Company, Vietnam’s biggest gold processer and trader, bought the metal at VND40.75 million and sold at VND40.95 million...

Posted date: Thu, 17 May 2012 - From: Gold News