Jan 10: Vietnam gold rebounds to VND35.75Mln/tael

Local gold prices on January 10 rebounding to VND35.75million/tael, up VND130,000-170,000/tael from Friday close as world gold prices snapped its losing streak of worst week from May last year.

SJC in the open market was listed at VND35.63million/tael and VND35.75million/tael for bid and ask, respectively, the highest in the market.

SJC in Hanoi was listed at VND35.63billion/tael and VND35.73million/tael for bid and ask, respectively. Meanwhile, SJC in HCMC was listed at VND35.63million/tael and VND35.71milllion/tael for bid and ask, respectively.

Sacombank-SBJ in Ho Chi Minh was listed at VND35.65million/tael and VND35.71million/tael for bid and ask, respectively.

Bid and ask of Thang Long gold bullion, a product of Bao Tin Minh Chau were listed at VND35.65million/tael and VND35.75million/tael for bid and ask, respectively.

In Asia market, gold held steady on Monday, supported by renewed worries about the euro zone’s financial stability, but a stronger dollar weighed on sentiment, while holdings in the top exchange-traded fund continued to decline.

Spot gold gained $1.05 at $1,369.85 an ounce by 0041 GMT, after finishing the first week of 2011 with a 3.6% decline. U.S. gold futures were little changed at $1,370.3.

Holdings in the world’s largest gold-backed exchange-traded fund, SPDR Gold Trust, continued to decline. It fell to a seven-month low of 1,271.164 tons by Jan 7.

U.S. employers hired fewer workers than expected in December and a surprisingly large number of people gave up searching for work, tempering the positive news of a big drop in the unemployment rate.

Pressure is growing on Portugal from Germany, France and other euro zone countries to seek financial help from the EU and IMF to stop the bloc’s debt crisis from spreading, a senior euro zone source said on Sunday.

In the global market, the dollar index rose to its highest since Dec 1, as the euro plumbed four-month lows versus the greenback early in Asia after stops were triggered in thin trade as worries about Europe’s debt crisis mounted. – Stoxplus.com

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