Vietnam Business News

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• Peter Grandich’s $1 million bet that gold will hit $2,000
• Gold futures down 0.70% to Rs 28,292 per 10 grams on global cues
• Investors should keep a little physical gold at hand, expert says
• U.S. gold lost nearly 1 percent to $1,571.5, before trimming some losses to trade at $1,576.60
• Spot silver lost more than 2 percent to $28.26
• Gold mining stocks are undervalued
• Gold production likely to remain near 2500 tons this year
• More than 99 percent of India’s gold demand met by imports
• Gold dipped below the psychological Rs 29,000-level in the bullion market
• Update: Top ten firms with big cash balance

Peter Grandich’s $1 million bet that gold will hit $2,000 Posted: 15 Dec 2011 01:10 AM PST The tide appears to be turning bearish on gold, at least that's how some investors see it after Dennis Gartman, publisher of The Gartman Letter, told CNBC recently that he's sold all of the gold in his personal account. In report posted on CNBC.com Tuesday Gartman, who is also a CNBC contributor, said "the market [...]

Gold futures down 0.70% to Rs 28,292 per 10 grams on global cues Posted: 15 Dec 2011 01:09 AM PST Gold futures declined by 0.70% to Rs 28,292 per 10 grams in early trade today after the precious metal dipped below the $1,600 an ounce-level in overseas markets as a stronger dollar eroded its appeal as an alternative asset. In addition, subdued demand for the precious metal in the domestic spot market dampened the gold [...]

Investors should keep a little physical gold at hand, expert says Posted: 15 Dec 2011 01:03 AM PST THINKING about how to sell your gold as part of buying it? Investors who prefer to own physical gold they can see and touch have many ways to achieve that comfort level, says George Avalos at Hard Assets Investor. But when you stack up the choices, Gold Bullion appears to have the edge overGold Coins for investors who also think [...]

U.S. gold lost nearly 1 percent to $1,571.5, before trimming some losses to trade at $1,576.60 Posted: 15 Dec 2011 12:58 AM PST Spot gold wallowed near a 2-1/2-month low on Thursday after dropping 3.5 percent in the previous session, as investors remained nervous about the euro zone debt crisis amid the year-end rush to liquidate positions. Asian shares retreated and the euro and commodities nursed stinging losses on Thursday, as fears grew that the euro zone debt [...]

Spot silver lost more than 2 percent to $28.26 Posted: 15 Dec 2011 12:17 AM PST Spot silver lost more than 2 percent to $28.26, its lowest level since September 26, amid a broad retreat in metals prices as nervous investors fled riskier assets on worries about the euro zone debt crisis. U.S. silver also declined more than 2 percent to $28.28. http://esilverprices.net/spot-silver-lost-more-than-2-percent-to-its-lowest-level-since-september-26/

Gold mining stocks are undervalued Posted: 15 Dec 2011 12:06 AM PST We’ve been saying since September that Gold producers are undervalued, and here are some data that show just how extreme the undervaluation is. The following chart measures the stock prices of major and intermediate gold producers against their Net Asset Value, based on the daily price of gold. In the simplest terms, a company should be worth more [...]

Gold production likely to remain near 2500 tons this year Posted: 15 Dec 2011 12:00 AM PST Existing gold rally might not increase gold production this year as the yearly average is likely to remain near 2500 tons, Analysts said. However if the price rally continued this year, gold production may increase by upto three percent from 2013 onwards, they added. The World Gold Council in its latest report also said high [...]

More than 99 percent of India’s gold demand met by imports Posted: 14 Dec 2011 11:20 PM PST (BullionStreet) : How long world’s largest gold consumer India can retain its No 1 spot without increasing its home production. The question was in the air for quiet some time but the country which,only produces around one percent of its annual gold demand but retained its No 1 gold consumer spot for all these years. [...]

Gold dipped below the psychological Rs 29,000-level in the bullion market Posted: 14 Dec 2011 11:00 PM PST Gold dipped below the psychological Rs 29,000-level in the bullion market here today on sustained selling by stockists in tandem with a steep fall in precious metals in global markets. Gold prices declined by Rs 100 to Rs 28,940 per 10 grams, while silver lost Rs 200 to Rs 55,800 per kg on reduced offtake [...]

Update: Top ten firms with big cash balance Posted: 14 Dec 2011 10:53 PM PST Till the end of the third quarter (Q3) of this year, there top ten enterprises have cash balance of over one trillion dong, of which, MSN posted the biggest cash balance of over 7.93 trillion dong. According to the statistics basing on 600 full fiscal reports by the end of Q3 this year, only 10 [...]

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