Vietnam Business News

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• Spot gold lost as much as 1.7 percent to a two-week low of $1,681.39 an ounce
• Is gold safe from Eurozone debt crisis?
• Buy Silver on dips: Kotak Commodity
• Gold price likely to remain sideways this week
• Gold Fields faces obstacle in Ghana
• Peru’s Oct. gold, silver output rises
• Gold traded steady on Monday
• The reasons to buy gold bullion coins
• Gold futures declined 0.44 per cent to Rs 28,919 per 10 grams
• Platinum supply will decline next year in both South Africa and Russia

Spot gold lost as much as 1.7 percent to a two-week low of $1,681.39 an ounce Posted: 12 Dec 2011 01:56 AM PST Gold prices fell more than 1 percent on Monday on technical selling and concerns that the European Union summit had stopped short of producing a convincing plan to solve the euro zone debt crisis. The approaching year-end and funding difficulties caused by financial market turmoil have reduced liquidity in the gold market, leaving prices prone to volatility. Spot gold prices fell [...]

Is gold safe from Eurozone debt crisis? Posted: 12 Dec 2011 01:55 AM PST Many investors are wondering: is Gold safe from Europe’s debt crisis? Well, according to popular e-newsletter Profit Confidential, the sovereign debt crisis and lack of political will to resolve underlying problems will result in price correction not just in the stock market, but in precious metals and other assets as well. According to Mitchell Clark, long-time analyst [...]

Buy Silver on dips: Kotak Commodity Posted: 12 Dec 2011 01:44 AM PST Kotak Commodity has come out with its report on bullion. According to the research firm Silver may remain under pressure in the near term as uncertainty about global economy will weigh on gold and industrial metals. • COMEX gold fell 2% last week erasing some of the losses noted a week ago • Gold fell last week amid weakness in commodities [...]

Gold price likely to remain sideways this week Posted: 12 Dec 2011 01:42 AM PST Gold price is likely to remain sideways this week due to uncertainty in global economy. The metal, of late, has started losing its status as safe haven investment avenue at the time of global economic crisis. The metal remained range-bound during the past one week and closed at Rs 28,915 per 10g on Saturday in [...]

Gold Fields faces obstacle in Ghana Posted: 12 Dec 2011 12:27 AM PST GOLD Fields will be unable to bring a major $700m expansion at its Damang mine in Ghana into production if the government there goes ahead with a proposal to raise corporate taxes, Tommy McKeith, the head of Gold Fields' growth and international projects, said yesterday. Ghana is not the only country that is changing its [...]

Peru’s Oct. gold, silver output rises Posted: 11 Dec 2011 11:42 PM PST Peru’s production of gold and silver rose in October, while output of copper and zinc declined, the government said. The Ministry of Mines and Energy said Wednesday that output of gold totaled 14,334 kilograms, up 8.06% compared to the same month a year earlier, as output increased at a number of mines. Silver production in [...]

Gold traded steady on Monday Posted: 11 Dec 2011 10:16 PM PST Gold traded steady on Monday, after last week’s European Union summit agreed on deeper economic integration but fell short of a convincing plan to address the two-year-old euro zone debt crisis. FUNDAMENTALS * Spot gold was little changed at $1,711.49 an ounce by 0022 GMT, struggling to stay above the 50-day average of $1,709.46. * U.S. gold traded nearly flat [...]

The reasons to buy gold bullion coins Posted: 11 Dec 2011 10:16 PM PST Buying Gold can be one of the most lucrative and sound investments that you can ever make. There are many different options of gold that you can buy. Depending on what you hope to attain, gold bullion coins may be the most profitable asset you can invest in. Here is a wide range of the reasons why [...]

Gold futures declined 0.44 per cent to Rs 28,919 per 10 grams Posted: 11 Dec 2011 09:54 PM PST Tracking a weakening global trend, gold prices declined by Rs 128 to Rs 28,919 per 10 grams in futures trade today, as speculators offloaded their positions. At the Multi Commodity Exchange, gold for delivery in February declined by Rs 128, or 0.44 per cent, to Rs 28,919 per 10 grams. Similarly, the metal for delivery in April lost Rs 121, or [...]

Platinum supply will decline next year in both South Africa and Russia Posted: 11 Dec 2011 09:31 PM PST Platinum fell this year to $1,509.75 an ounce at 1:20 p.m. in Singapore today, declining in the first three quarters. The last time that happened, in 2001, prices rallied more than 10 percent in the final three months. The Standard & Poor's GSCI gauge of 24 commodities advanced 3.4 percent, led by gasoil, gold and cattle. The MSCI All-Country World [...]

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