Vietnam exports 30 tons of gold as at mid-july/2011

Vietnam exported over 30 tons of gold as at the middle of July this year, the local newswire VnExpress reported July 19, based on statistics from Vietnam’s General Customs and Vietnam Gold Traders Association.

Vietnam exported over 30 tons of gold as at the middle of July this year, the local newswire VnExpress reported July 19, based on statistics from Vietnam’s General Customs and Vietnam Gold Traders Association.

Earlier, Vietnam’s General Customs ‘s data showed that Vietnam exported about 14 tons of gold in June and 24 tons of gold in the first six months of the year, local media reported, adding that a source from VGTA estimated the export turnover of about 6-7 tons of gold in the first two weeks of July.

Costs of exporting gold are currently estimated at VND200,000 per tael, therefore domestic gold prices must be at least VND200,000 higher than global prices to ensure profit for gold exporters, they said.

Gold prices on Tuesday morning extended its wining streak to a fresh all-time high of VND39.54million/tael, which’s VND100,000 lower than global gold prices, the VnExpress noted. – Stoxplus.com

Tags: vietnam gold, Vietnam gold exports, Vietnam gold market

Posted by VBN on Jul 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