Ban on trading gold through foreign accounts

All gold trading activities via foreign accounts had been banned with the exception of any further trades needed to pay off contracts and close the accounts, the State Bank of Viet Nam announced on its website yesterday, January 7.
All foreign gold accounts must be terminated by March 30.

Last week, Prime Minister Nguyen Tan Dung ordered all public gold trading on floors to be banned as of March 31, 2010. The order requires that all gold trading floors and all domestic accounts for gold trading to be terminated by that date.

With the new regulations, the State Bank of Viet Nam will oversee all trading of the precious metal.

VietNamNet/Viet Nam News

Tags: Vietnam gold market

Posted by VBN on Jan 9 2010. 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