Vietnam gold trading turnover falls 70% on Vonfram

Vietnam gold trading turnover fell 70% after gold mixed with volfram appeared in Vietnam.

Vu Minh Chau, CEO of Bao Tin Minh Chau Gold and Gemstone Ltd. said the gold market is now in the crisis period, bullion trading fell by half even to 30% in some gold trading companies, sending these enterprises to the verge of shutdown.
A gold shop keeper in Hanoi said after the news that bullion trading in open market will be put under strict control, gold trading turnover already fell 40% and after the news of volfram-mixed gold, the turnover fell up to 70%.

Chau said the current crisis in the gold market is caused by customer’s sentiment. Though the case of volfram-mixed gold has been under control, customers still stayed cautious.

Analysts say the sluggish gold trading will not last long as it reflected first response of the public with fears of buying impure gold. – Stoxplus.com

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

Posted by VBN on May 30 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