Imported gold arrives Vietnam

Local gold importers said they already completed paperwork and expected imported gold to arrive in Vietnam this week, the local newswire Thoi Bao Kinh Te Sai Gon reported November 11.

Local gold importers said they already completed paperwork and expected imported gold to arrive in Vietnam this week, the local newswire Thoi Bao Kinh Te Sai Gon reported November 11.

Truong Cong Ngon, SJC’s deputy general director said the company was allowed to import 200 kgs of gold and await them to be onshore this afternoon.

Phu Nhuan Jewelry (PNJ) informed that the company successfully set a good price with its foreign partners and expected to receive gold late this week.

A PNJ’s representative said most of enterprises were given an estimated gold import quota of 200-300 kg each while PNJ can import more on its abundant dollar sources.

Sacombank said currently the bank has not yet set the final prices with its sellers eyeing better deals yet affirming to import gold.

The State Bank of Vietnam (SBV) on November 9 granted gold import quotas valid for 14 days to several banks and at least one gold company in a move to calm the domestic market, the state media reported.

Vietnam gold on November 11 eased to VND36.2million/tael off the lifetime high of VND38.2million/tael on Tuesday after the SBV’s surprise move. – Stoxplus.com

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