Vietnam Business News

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• Dec 7: foreigners net buy on hose, net sell on hnx
• Platinum has fallen 21 per cent from this year’s high
• Gold for delivery in February 0.2% at $1,734.40 a troy ounce
• Eric Sprott: Silver miners should invest in the commodity that they produce.
• Jim Rogers slams the FED, sees QE3, but cautious on gold
• Gold price may touch US$2,300 an ounce in 2012
• Gold edged up on Wednesday
• European Bank Gold Holdings Steady – ECB
• Gold price to open at 16,050 HK dollars per tael on Wednesday
• How traders are going for the gold

Dec 7: foreigners net buy on hose, net sell on hnx Posted: 07 Dec 2011 12:30 AM PST Foreigners continued to be net buyers on HOSE but returned to be net sellers on HNX on Wednesday. These players net bought VND26.66 billion on the HOSE after buying 3,008,010 shares for VND77.63 billion and selling 2,261,810 units for VND50.97 billion, accounting for 19.09% buying value and 12.53% selling value. Of note, buying volume was [...]

Platinum has fallen 21 per cent from this year’s high Posted: 07 Dec 2011 12:27 AM PST Platinum briefly fell below the $1,500 an ounce mark for the first time in six weeks, with the price of the precious metal relative to gold falling to its lowest level in 26 years. Platinum has traditionally been priced higher than gold as it is rarer, and since 1985, every time it has dropped below [...]

Gold for delivery in February 0.2% at $1,734.40 a troy ounce Posted: 07 Dec 2011 12:15 AM PST Gold futures moved sideways in a narrow range in electronic trading Wednesday after a two-day losing run, as investors looked toward this week's summit of European leaders for fresh cues . Prices of the precious metal for delivery in February were up $2.60, or 0.2%, at $1,734.40 a troy ounce on the Comex division of the [...]

Eric Sprott: Silver miners should invest in the commodity that they produce. Posted: 07 Dec 2011 12:00 AM PST Eric Sprott, founder and CEO of Sprott Asset Management (TSX:SII) believes that silver miners should invest in the commodity that they produce. Last week, Sprott announced that he was going to urge producers to do just just that—stop selling all of their silver for cash and instead, retaining a portion as reserves. "I'm writing a letter basically [...]

Jim Rogers slams the FED, sees QE3, but cautious on gold Posted: 06 Dec 2011 11:38 PM PST Legendary investor Jim Rogers' latest criticism of the Federal Reserve included the contention that the U.S. central bank is "ruining an entire class of investors." In an interview with Yahoo Finance's "Breakout," Rogers argued that the Fed's artificially low interest rates are really "something akin to QE3 in drag."  The Fed is "lying to us," he stated, [...]

Gold price may touch US$2,300 an ounce in 2012 Posted: 06 Dec 2011 11:24 PM PST Gold can build on its 2011 gains next year with prices possibly touching US$2,300 an ounce, according to US-based Dillon Gage Metals. In a statement Dec 6, Dillon Gage, an online gold trading platform, said that the price of gold had reached an all time high in September on the back of a turbulent year [...]

Gold edged up on Wednesday Posted: 06 Dec 2011 11:00 PM PST Gold edged up on Wednesday, together with equities, with investors cautiously optimistic ahead of a key European Union summit later this week where policymakers are expected to find a way to end the region’s two-year-old debt crisis. FUNDAMENTALS * Spot gold edged up 0.1 percent to $1,729.89 an ounce by 0020 GMT. * U.S. gold [...]

European Bank Gold Holdings Steady – ECB Posted: 06 Dec 2011 10:59 PM PST The balance sheet of the Eurosystem of central banks hit a new high last week, while gold and gold receivables held by euro zone central banks remained unchanged at 419.822 billion euros in the week ending Dec. 2, European Central Bank data showed on Tuesday. Net foreign exchange reserves in the Eurosystem of central banks rose by [...]

Gold price to open at 16,050 HK dollars per tael on Wednesday Posted: 06 Dec 2011 10:37 PM PST The gold price in Hong Kong went up 80 HK dollars to open at 16,050 HK dollars per tael on Wednesday, according to the Chinese Gold and Silver Exchange Society. The price is equivalent to 1,733.27 U.S. dollars a troy ounce, up 8.87 U.S. dollars at the latest exchange rate of one U.S. dollar against [...]

How traders are going for the gold Posted: 06 Dec 2011 10:33 PM PST Do pullbacks in the yellow metal signal an opportunity for short term traders? With the market advancing again on Monday, the vast majority of stocks and ETFs in our database are short-term overbought. This means that increasingly, just about everyone who wants to buy has likely done so, and that the next big move in [...]

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