The price of gold in Vietnam dropped by VND250,000 a tael (1.2 ounces) over the previous day on July 28 after the global price lost 1.7 percent.
Saigon Jewelry Co. bought the metal at VND27.7 million and sold at VND27.77 million.
At Sacombank Jewelry Co., gold was bought at VND27.76 million and sold at VND27.8 million.
However, the [...]
Despite the sharp fall of the gold price in the world market and the low demand, the domestic gold price remains high, hovering around 28 million dong per tael, higher by 500,000 dong per tael than the world price
Gold price up, dollar price up
In the first months of the year, the domestic gold price was [...]
The price of gold in Vietnam on July 19 changed little over the weekend, staying below VND28.15 million a tael (1.2 ounces).
At most gold shops, the metal was bought at VND28.1 million and sold at nearly VND28.15 million.
Trading on bullion market was muted, as investors considered prices unreasonable to buy or sell.
Domestically, bullion fetched VND330,000 [...]
Major gold traders have not yet got gold import permits although the central bank’s governor said he has issued a decision allowing for unlimited gold import following proposals from these companies.
When the difference between local and global gold prices widened to VND700,000 per tael in early July due to scarcity on the local market, Saigon [...]
Gold and securities, once the most attractive investment options for many people, are no longer the top choice as minor price fluctuations bring tiny profits.
In previous days, people rushed to purchase and sell gold when the ‘gold price wave’ towered. Investors profited hugely by buying when the price was low and selling when the price [...]
The State Bank of Vietnam (SBV) has given a green light for companies to import gold. Some gold trading companies, meanwhile, are revving their engines in anticipation of importing gold for profit.
The closing gold price on July 10 was at $1212 per ounce on the world market. As the price unexpected rose by nearly $20 [...]
The Government has lifted the current ban on gold imports as part of measures to regulate the domestic market, said State Bank of Viet Nam (SBV) Governor Nguyen Van Giau.
Giau said last Friday that there will be no restrictions on gold imports under the new decision.
The decision follows applications from many jewellery firms and banks [...]
The State Bank of Vietnam (SBV) governor, Nguyen Van Giau, has signed a decision to allow businesses to re-import gold.
The decision was issued when the domestic gold price is much higher than the rest of the world. It hit a peak on July 7 with the domestic price was VND700,000 per tael higher than the [...]
Foreign exchange shops sold dollars at 19,130 dong yesterday July 5, a decrease of 20 dong from late last week. At the same time, the gold price increased, but it has not exceeded the 28.4 million dong per tael threshold.
At 9 am on July 5, Sacombank-SBJ quoted bar gold prices at 28.33-28.37 million dong per [...]
By May 15, 2010, customs agencies had discovered 4520 cases of violations and seized nine kilograms of gold that were illegally carried across the border, according to the Ministry of Finance.
Prior to that, on June 24, the General Statistics Office (GSO) reported that JJune export revenue of precious metal, precious stone and products reached $350 [...]
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