Vietnam central bank allows import of additional 4 tonnes of gold

Gold traders said that the State Bank of Vietnam (SBV) has recently allowed more gold import by 10 firms, including both enterprises and banks with a total volume of four tonnes, according to the local newswire Tuoi Tre (Youth).

Under which, Saigon Jewellery Joint Stock Co (SJC) has been licensed to import 700 kilograms of gold and Phu Nhuan Jewellery Joint Stock Co (PNJ) has been allowed to import 500 kilograms of gold.

SJC said that on September 19 alone, it sold about 7,000 taels of gold while buying 2,000 taels of gold. Meanwhile, PNJ sold 2,500 taels and gold and bought 800 taels of gold.

Also according to Tuoi Tre previously, on September 16, SJC sold 11,000 taels of gold and bought 3,000 taels and PNJ’s volume was 3,000 taels and 1,000 taels respectively.

Thus, in two days when the gold price tended to fall, SJC posted a net sale of 13,000 taels of gold and PNJ’s net sale was 3,700 taels.

At the cabinet press conference on September 1, SBV’s governor, Nguyen Van Binh, said that in both two gold fevers in August, the central bank licensed for gold import of about 15 tonnes, but in fact the actually imported volume reached only seven tonnes.

As expected, the additional gold import will be delivered to Vietnam in September 20 and 21. – Tuoitre

Tags: vietnam gold, Vietnam gold imports, Vietnam gold market

Posted by VBN on Sep 20 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