Vietnam Business News

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• Gold futures on the Multi Commodity Exchange rallied on Thursday
• Gold inched lower on Thursday as investors fret over Europe
• Gold price opens higher in Hong Kong – December 8
• Gold may be basing itself for “potentially explosive moves” in 2012 – UBS
• Dec 8: foreigners net sell on both HOSE and HNX
• Russia’s gold and FX reserves rose to $514.1 billion
• Gold futures rose 0.8 percent to settle at $1,744.80 an ounce
• Thailand gold prices for Dec 08
• Vietnam gold rises to vnd45.11mln/tael, dollar stable
• Prices keep falling for all gold bullion without crucial brand

Gold futures on the Multi Commodity Exchange rallied on Thursday Posted: 08 Dec 2011 01:02 AM PST Gold futures on the Multi Commodity Exchange rallied on Thursday as the fall in domestic equities boosted the demand for the yellow metal as safe-haven investment. At 12:15 pm IST, the gold for December delivery contract was trading in the range of Rs 29,320 – Rs 29,323 per 10 grams. While the metal for February contract [...]

Gold inched lower on Thursday as investors fret over Europe Posted: 08 Dec 2011 12:12 AM PST Gold inched lower on Thursday, along with equities, as concerns set in about whether European leaders would be able to come up with a concrete plan to contain the region’s crippling debt crisis at a crucial summit on Friday. Hopes for a definitive plan to tackle the two-year-old euro zone debt crisis were feeble a day [...]

Gold price opens higher in Hong Kong – December 8 Posted: 07 Dec 2011 11:44 PM PST The gold price in Hong Kong went up 80 HK dollars to open at 16,140 HK dollars per tael on Thursday, according to the Chinese Gold and Silver Exchange Society. The price is equivalent to 1,742.99 U.S. dollars per troy ounce, up 8.59 U.S. dollars at an exchange rate of one U.S. dollar against 7.77 [...]

Gold may be basing itself for “potentially explosive moves” in 2012 – UBS Posted: 07 Dec 2011 11:39 PM PST Gold prices will see some explosive moves in 2012, UBS reports even though the current nature of gold proves to be a difficult hurdle for short-term trade. "Our recent meetings suggest clients would prefer for gold to move more convincingly back into the safe-haven camp as its current hybrid state makes it a difficult short-term trade", [...]

Dec 8: foreigners net sell on both HOSE and HNX Posted: 07 Dec 2011 11:27 PM PST Foreigners were net sellers on both HOSE and HNX on Thursday after 2 days being net buyers on the primary bourse HOSE. These players net sold VND52 billion on the HOSE after buying 2,128,370 shares for VND50.08 billion and selling 4,727,420 units for VND102.08 billion, accounting for 7.96% buying value and 16.22% selling value. Of [...]

Russia’s gold and FX reserves rose to $514.1 billion Posted: 07 Dec 2011 11:26 PM PST Russia’s gold and foreign exchange reserves rose to $514.1 billion in the week to Dec. 2 from $510.2 billion a week earlier, central bank data showed on Thursday. The central bank provided the following figures (in billion dollars): Latest week   514.1 Previous week   510.2 End-2010   479.4 NOTE – The reserves include monetary gold, special drawing rights, reserve [...]

Gold futures rose 0.8 percent to settle at $1,744.80 an ounce Posted: 07 Dec 2011 11:00 PM PST Gold futures rose for the first time in three days as mounting concern that European leaders won't be able to agree on steps to stem the region's debt crisis increased demand for a haven. A German government official expressed pessimism over the outcome of a summit starting tomorrow aimed at resolving the crisis, and said [...]

Thailand gold prices for Dec 08 Posted: 07 Dec 2011 10:42 PM 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 gold rises to vnd45.11mln/tael, dollar stable Posted: 07 Dec 2011 10:41 PM PST Vietnam gold rose VND0.35 million a tael from yesterday close to VND45.11million/tael on Thursday morning. World gold prices slightly increased in New York last night but edged down in Asia this morning. Local dollar prices were kept at VND20,803. SJC Hanoi quoted at VND44.89million/tael for bid and VND45.11 million/tael for bid and ask, respectively as [...]

Prices keep falling for all gold bullion without crucial brand Posted: 07 Dec 2011 10:24 PM PST Gold bullion that does not bear the Sai Gon Jewellery Company (SJC) brand continues to face dramatic price cuts, even though the State Bank of Viet Nam (SBV) has said that all brands of gold bullion are priced at an equal rate. SBV recently announced that anyone holding gold bullion of other brandnames could exchange [...]

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