Gold rebounded from Thursday’s drop of 2.6 percent but is headed for a third straight week of decline as investors worried over slower growth prospects sold the precious metal after losses in the equities and commodities markets. FUNDAMENTALS * U.S. gold futures GCcv1 were at $1,749.20, up 0.4 percent by 0059 GMT, but traded below [...]
Silver prices tumbled and gold dropped to one-month lows on Friday, amid a sell-off in commodities as fear heightened that the global economy could plunge back into a recession. The base metals complex tumbled, led by a 13 per cent loss in the London tin . Asia’s stock market also slid and emerging market currencies fell [...]
The price of gold in Vietnam fell by VND300,000 a tael (1.2 ounces) over the previous day on September 22 as global price receded to around $1,775 an ounce. Sacombank Jewelry Company bought gold at VND46.66 million and sold at VND46.84 million at 11:10 am local time. Saigon Jewelry Company, the biggest gold processor and [...]
The difference between local and global gold prices is expanding strongly, reaching a vast VND1.8 million a tael on Tuesday as strong local demand has almost devoured the huge import quotas of four tons granted to bullion traders. Truong Cong Nhon, deputy general director of Saigon Jewelry Holding Co. (SJC), said his business last weekend [...]
When asking commercial banks to reduce the deposit interest rates, policy markers reassured them that the deposits would keep rising, because people would have no other choice for their idle money. However, the prediction has not come true. Observers say that they can see the tendency of bank deposits moving from small banks to big [...]
Gold futures tumbled sharply on Thursday as the dollar rallied in the wake of the Federal Reserve’s bond-swap program and pessimistic economic data from China further damaged sentiment. Gold for December delivery was off $74.20, or 4.1%, to $1,734.10 an ounce on the Comex division of the New York Mercantile Exchange, near session lows. It had [...]
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