Basing on the dong/US dollar forex rate today Thursday September 1, the global gold price is still higher than the local gold price by one million dong per tael. At 9:05 am local time September 1, the local gold price continued falling 100,000 dong per tael from the previously-updated price. Accordingly, the SJC gold price [...]
The State Bank of Vietnam (SBV) is mulling over a plan to attract and utilise gold accumulated in domestic savings in order to bolster national foreign currency reserve. Truong Van Phuoc, former Director of the SBV’s Department of Foreign Currency, said that banks had previously accessed 130 tonnes of the precious metal that is often [...]
The price of gold in Vietnam rose by VND1 million a tael (1.2 ounces) over the previous day on August 31 as global price gained nearly $50 an ounce in the trading session in New York last night. Saigon Jewelry Company, the biggest gold shop in Vietnam, bought gold at VND46.9 million and sold at [...]
Today morning August 31, the local gold price jumped to over 47.3 million dong per tael and the global gold price also bounced over $40 per tael from the closing price yesterday. At 8:30 am local time, the domestic gold price increased one million dong/tael from late yesterday whereby the selling price is at 47.3 [...]
The former head of the Foreign Exchange Management Department Truong Van Phuoc had a talk with Tuoi Tre about the State Bank of Vietnam’s plan to mobilize a large source of gold from the public to buy foreign currencies to strengthen reserves. Phuoc said the central bank planned to have commercial banks mobilize gold deposits [...]
Many enterprises have petitioned the State Bank of Vietnam for more quotas on gold import to replenish their stocks that are being depleted following feverish buying these days. A senior executive of Saigon Jewelry Holding Co. (SJC) said his company imported over two tons of the yellow metal this month, but the volume was almost [...]
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