Sep 28: Vietnam gold losses vnd45mln/tael threshold amid global volatility

Vietnam gold fell VND1 million to VND45.6 million a tael at the open as investors took profit, narrowing local gold premium to VND3.5 million/tael, dollar prices were stable.

As of 8:30 Hanoi time, Sacombank-SBJ gold was listed at VND43.81 million/tael -VND44.79 million/tael for bid and ask, respectively.

SJC in Hanoi was trading at VND44.1 million/tael and VND44.62 million/tael for bid and ask, respectively, down 1 million from yesterday close.

Rong Thang Long gold, a product of Bao Tin Minh Chau company was traded at VND44.2 million-VND44.79 million a tael.

Of note, the spread between gold bids and asks widened to VND0.5-1 million/tael compared with VND0.4-0.6 million /tael yesterday and domestic gold premium fell to VND3.5 million/tael or 7.8% compared with over 11% hit 2 days ago and 8.1% yesterday.

The wide gap between local and global gold prices threatened the stability of forex market, analysts noted. – Stoxplus.com

Tags: vietnam gold, Vietnam gold market, Vietnam gold prices

Posted by VBN on Sep 28 2011. Filed under Gold. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry