Vietnam Business News

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• Gold falls hard; silver falls harder
• India gold falls to 18-week low
• Gold prices slumped on Friday
• Gold has worst day in 5 years; silver drops 18%
• Import quotas still cannot ease thirst for gold
• Gold imports fail to pull prices down
• Gold on track for biggest weekly drop since early December 08, silver drops to 7-month low
• Gold witnessing a tailspin with flailing euro zone and global economic growth
• Gold futures on Friday notched their biggest one-day percentage drop in five years

Gold falls hard; silver falls harder Posted: 24 Sep 2011 01:05 AM PDT Gold prices plummeted Friday, at one point tumbling 15 percent from the level of three weeks ago, as investors started buying stocks and, to a lesser extent, euros but stayed kept selling precious metals. The virtual collapse in the safe-haven investment – it hit a seven-week low and was headed towards its steepest weekly fall [...]

India gold falls to 18-week low Posted: 23 Sep 2011 11:30 PM PDT Traders continue sell-off on margin pressure from other asset classes, trend may go on for some time. Gold continued its downward journey and slumped to a four-and-a-half-month low on Friday in early London trade due to heavy selling pressure by speculators, in line with the meltdown in equity markets. The yellow metal slumped to trade [...]

Gold prices slumped on Friday Posted: 23 Sep 2011 10:44 PM PDT (Reuters) – Gold prices slumped on Friday, on track for the third-worst day in two decades as traders sold to cover losses, while stocks were mixed in a jittery market worried about the growing possibility that Greece will default. Trading was volatile and stocks seesawed between gains and losses, capping a tumultuous week in financial markets that [...]

Gold has worst day in 5 years; silver drops 18% Posted: 23 Sep 2011 10:10 PM PDT (MarketWatch) — Gold futures notched their largest one-day percentage drop in five years, ending 5.9% lower Friday, as turmoil in global financial markets led to a rush to sell gold and other metals to raise cash. Silver ended 18% lower, its worst in decades, while platinum stumbled 5.7% and other metals also collected a slew [...]

Import quotas still cannot ease thirst for gold Posted: 23 Sep 2011 09:20 PM PDT The State Bank of Vietnam last week granted the quotas to import four tons of gold, aiming to narrow the gap between the domestic and the world's prices. However, the imports still cannot satisfy the domestic demand, while the domestic prices are still 1.5-1.9 million dong per tael higher than the world's prices. Hanoians rush [...]

Gold imports fail to pull prices down Posted: 23 Sep 2011 09:15 PM PDT Vietnamese gold prices stubbornly remained higher than global prices at the close of yesterday's trading session despite the arrival of four tons of imported gold. They closed at 46.95 million dong a tael (37.5 grams, 1.21 troy ounces) after retreating to 46.6 million dong in the morning, or 1.9 million dong (US$95) higher than internationally. [...]

Gold on track for biggest weekly drop since early December 08, silver drops to 7-month low Posted: 23 Sep 2011 09:00 PM PDT (Reuters) – Gold slid to a 6-1/2 week low on Friday, setting the stage for its sharpest weekly drop since December 2008 as it tracked a heavy sell-off in the commodities complex, under pressure as traders sold bullion to cover losses in other assets. At 1343 GMT, spot gold fell to $1,687.54 a troy ounce, having [...]

Gold witnessing a tailspin with flailing euro zone and global economic growth Posted: 23 Sep 2011 08:21 PM PDT After a month of unprecedented volatility that has rattled some investors’ confidence in gold’s decade-long winning streak, the question is obvious: Is this what the popping of a gold bubble looks like? The answer, of course, isn’t obvious. The bursting of asset bubbles is best seen in retrospect, and gold’s 10 percent decline from a record [...]

Gold futures on Friday notched their biggest one-day percentage drop in five years Posted: 23 Sep 2011 07:43 PM PDT (MarketWatch) — Gold futures on Friday notched their biggest one-day percentage drop in five years and their biggest one-day dollar drop since Aug. 24 as investors pulled out metals in search of cash and Treasurys. Gold for December delivery  declined $101.90, or 5.9%, to settle at $1,639.80 an ounce on the Comex division of the New [...]

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