Look At Vietnam

Tag: Gold prices

More gold in the market brings down prices

February 6, 2010  . Filed under Business, News

More gold in the market brings down prices

Gold prices plunged Thursday after the central bank said it would ask the country’s largest gold trader to sell more gold in the market. The State Bank of Vietnam said in a statement on its website that although the local gold market has stayed calm recently, gold prices onshore were still high compared to... Read more

Gold trading season begins quietly

January 25, 2010  . Filed under Business, News

Gold trading season begins quietly

LookAtVietnam – Gold purchases remains low, even though the trading season has begun. People are avoiding gold while prices are overly high and many have turned to hoarding dollars. The gold price fluctuatesAfter reaching its highest peak at 29 million dong per tael in November 2009, the gold price slid to 26.39 dong per tael on January 22, 2010. Since... Read more

World gold price plunges, domestic price follows

January 22, 2010  . Filed under Business, News

World gold price plunges, domestic price follows

LookAtVietnam – The world gold price has decreased by 2.3 percent, forcing a domestic price drop to 26.65 million dong per tael. Bar gold prices at 9.45 am of January 21, 2010 stood at 26.55-26.65 million dong per tael (purchase and sale). This represents a sharp fall of 300,000 dong per tael, or 1.1 percent over yesterday morning. In Hanoi, Rong Thang... Read more

Gold Market Review 2009

December 28, 2009  . Filed under In depth, Reports

Gold Market Review 2009

LookAtVietnam – Gold prices for 2009 broke records continuously, climbing to their highest level in history. The decision to allow gold imports, released on November 11, successfully cooled the market.Here are the nine most outstanding features of the gold market from Thoi Bao Kinh Te Vietnam. Record-setting year The gold price increased steadily... Read more

Central bank acts early – dong down, interest rates up

November 27, 2009  . Filed under Business, News

Central bank acts early – dong down, interest rates up

A bank staff counts US dollar notes at an Asia Commercial Bank branch in Ho Chi Minh City The central bank has devalued the dong and raised interest rates earlier than expected in an attempt to rein in accelerating inflation and a widening trade deficit that is eroding confidence in the local currency. The State... Read more

Gold imports: this medicine’s not strong enough to cool the market

November 26, 2009  . Filed under In depth, Reports

Gold imports: this medicine’s not strong enough to cool the market

LookAtVietnam - The central bank expected that allowing gold imports would force down the gold price, but it hasn’t turned out that way.   On November 24-25, gold was selling for 28.6 million dong per tael, an increase of about 33 percent since early June.  Gold price hike blamed on deteriorating dollar/dong exchange rate  Nguyen... Read more

Gold uncertain, pessimism on stocks unwarranted

November 23, 2009  . Filed under Business, News

Gold uncertain, pessimism on stocks unwarranted

Soaring gold prices have prompted investors to switch to currently cheap stocks until things return to normal but analysts say only those with experience should dabble in a market riding on investor pessimism.  LookAtVietnam - Soaring gold prices this month have prompted investors to switch to currently cheap stocks until things return to normal but analysts... Read more

Gold price continues to rise sharply

November 23, 2009  . Filed under Business, News

Gold price continues to rise sharply

LookAtVietnam - World gold prices continued to rise over the weekend causing a spike in the cost of domestic gold.    LookAtVietnam - World gold prices continued to rise over the weekend causing a spike in the cost of domestic gold.   On November 21, domestic gold was officially traded at VND27.58 million per tael, an increase of VND780,000... Read more

Second stimulus package boost high grade apartment sales

November 19, 2009  . Filed under Business, News

Second stimulus package boost high grade apartment sales

VietNamNet Bridge – The government’s announcement on the second stimulus package is helping sales of high grade apartments. Hanoi’s real estate market is now quite different from two months ago. Previously, people rushed to purchase land in suburban areas of the city and refused to purchase apartments. Meanwhile, they are now scrambling for... Read more

Giau of State Bank calls gold markets ‘beyond control’

November 17, 2009  . Filed under In depth, Reports

Giau of State Bank calls gold markets ‘beyond control’

Under questioning by NA deputies on November 17, the State Bank Governor denied that it was an imbalance of supply and demand that caused gold prices to rocket recently. State Bank Governor Nguyen Van Giau. Though almost all the questions for the governor were long, his answers were very short. Unsatisfied, several deputies rose in protest. A crazy... Read more

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