Vietnam Business News

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• Vietnam central bank to manage SJC Gold Brand?
• Thailand gold prices for November 21
• Vietnam central bank establishes a team to develop plans to stabilize the gold market
• Gold ETF inflows hit 77.6 tons in Q3-2011
• Gold futures slipped in electronic trading Monday
• U.S. gold little changed at $US1,724.20 on Monday
• Spot gold edged down 0.1 per cent to $US1,723.29 an ounce on Monday
• US Mint buys more gold,silver from Sunshine
• Vietnam deposit interest rate cap is a temporary solution: official
• Vietinbank gets sbv’s approval to increase charter capital to vnd20.2tln

Vietnam central bank to manage SJC Gold Brand? Posted: 21 Nov 2011 12:45 AM PST The State Bank of Vietnam may use Saigon Jewelry Company Limited (SJC)'s gold brand as a national brand and control the local bullion production via this brand. The State Bank of Vietnam may use Saigon Jewelry Company Limited (SJC)'s gold brand as a national brand and control the local bullion production via this brand, Nguyen [...]

Thailand gold prices for November 21 Posted: 21 Nov 2011 12:00 AM PST The Gold Traders Association this morning set the buying price at 24,877.56 baht per baht-weight for gold ornaments and 25,250 baht per baht-weight for gold bar. The selling prices were set at 25,750 baht per baht-weight for gold ornaments, and 25,350 baht per baht-weight for gold bar.

Vietnam central bank establishes a team to develop plans to stabilize the gold market Posted: 20 Nov 2011 11:50 PM PST The Governor of the State Bank of Vietnam (SBV) on Nov 17 issued Decision No.2496/2011/QD-NHNN to set up a Team in charge of preparing plans to use internal resources for stabilizing the local gold market. The team included leader Nguyen Quang Huy, Head of Foreign Exchange Management Department of the SBV, and other members who [...]

Gold ETF inflows hit 77.6 tons in Q3-2011 Posted: 20 Nov 2011 11:23 PM PST World Gold Council said gold ETFs and similar products witnessed inflows of 77.6 tonnes in the third quarter of 2011, which was 58% above year-earlier levels of 49.1 tonnes. According to its World Gold Council’s Gold Demand Trends report for Q3 2011, total gold demand in the third quarter of 2011 reached 1,053.9 tonnes; an [...]

Gold futures slipped in electronic trading Monday Posted: 20 Nov 2011 11:15 PM PST Gold futures slipped in electronic trading Monday, tracked by falls for the wider metals complex. Gold for December delivery lost $1.50, or 0.1%, to $1,723.60 an ounce on the Comex division of the New York Mercantile Exchange during Asian trading hours. The metal closed out Friday's North American session with a weekly loss of 3.5%, breaking [...]

U.S. gold little changed at $US1,724.20 on Monday Posted: 20 Nov 2011 11:11 PM PST Gold traded steady on Monday after its biggest weekly loss since September, as investors remained cautious even after Spain’s centre-right opposition won a landslide victory in the election and is expected to launch drastic austerity measures. Market reaction to the news has been wary, with Asian shares dipping and the euro got off to a [...]

Spot gold edged down 0.1 per cent to $US1,723.29 an ounce on Monday Posted: 20 Nov 2011 10:11 PM PST Gold traded steady on Monday after its biggest weekly loss since September, as investors remained cautious even after Spain’s centre-right opposition won a landslide victory in the election and is expected to launch drastic austerity measures. Market reaction to the news has been wary, with Asian shares dipping and the euro got off to a [...]

US Mint buys more gold,silver from Sunshine Posted: 20 Nov 2011 10:08 PM PST Despite a dip in gold coin sales in October, US Mint bought more gold and silver from Idaho’s Sunshine Minting Inc. Sunshine Minting Inc., a closely held company in Coeur d'Alene, received $1.25 billion from the government for precious metals in the fiscal year that ended Sept. 30, up from $591.4 million during the prior [...]

Vietnam deposit interest rate cap is a temporary solution: official Posted: 20 Nov 2011 09:50 PM PST The 14% deposit interest rate cap is just a temporary solution of the State Bank of Vietnam and could be removed when the financial market and interest rates become stable. The 14% deposit interest rate cap is just a temporary solution of the State Bank of Vietnam and could be removed when the financial market [...]

Vietinbank gets sbv’s approval to increase charter capital to vnd20.2tln Posted: 20 Nov 2011 09:49 PM PST The Governor of the State Bank of Vietnam (SBV) on Nov 18 issued Official Document No. 8956/NHNN-TTGSNH, approving Vietnam JS Bank for Industry and Trade (VietinBank)'s plan to raise charter capital to VND20.23 trillion ($1 billion). VietinBank was granted permission to increase its chartered capital from current VND16.858 trillion to VND20.230 trillion through issuing 337,162,027 [...]

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