Vietnam Business News

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• U.S. gold inched up 0.2 percent to $1,613.90, headed for a weekly gain of 1 percent
• BIDV to make IPO soon, individual investors seem not interested
• Vietnam commodities exchange on the way
• Government approves strategy on housing for the poor
• How gold, silver and platinum will respond to ECB’s money printing
• Spot gold edged up 0.4 percent to $1,611.96 an ounce
• Gold remains good hedge against inflation
• Russia’s gold and FX reserves shed almost $12 billion last week
• Gold futures rose by Rs 72 to Rs 29,770 per 10 grams
• Gold inched higher on Friday in thin trade

U.S. gold inched up 0.2 percent to $1,613.90, headed for a weekly gain of 1 percent Posted: 23 Dec 2011 01:00 AM PST Gold inched higher on Friday in thin trade, taking cues from higher equities after upbeat U.S. economic data encouraged investors, while the persistent gloom hanging over the euro zone weighed on sentiment. Data showing a drop in U.S. jobless claims encouraged modest gains in equities and commodities. The euro traded steady, on track to end the [...]

BIDV to make IPO soon, individual investors seem not interested Posted: 23 Dec 2011 12:36 AM PST As planned, in December, Bank for Investment and Development of Vietnam (BIDV) will make IPO (initial public offering) with about 22% of its chartered capital. Of which, BIDV will auction 3% (nearly 85 million shares) to the public, 1% of preferential shares for staff, 3% for BIDV’s labor union and 15% remaining will be offered [...]

Vietnam commodities exchange on the way Posted: 23 Dec 2011 12:36 AM PST Derivative exchange, considered a new investment channel for local business in the gloomy economy, will take a leap in the domestic commodity market next year. Nguyen Duy Phuong, director of the Vietnam Commodities Exchange (VNX), made the above statement at a conference held in the capital on Tuesday. At the event, entitled “Viet Nam’s Economy [...]

Government approves strategy on housing for the poor Posted: 23 Dec 2011 12:36 AM PST The Vietnamese prime minister has approved a national housing development strategy up to 2020 with a vision to 2030, with a specific aim to construct 10 million square meters of housing for low-income earners in the next four years. Apartment buildings should be the most popular type of housing projects, accounting for over 80 percent [...]

How gold, silver and platinum will respond to ECB’s money printing Posted: 23 Dec 2011 12:28 AM PST Today, about 490 billion euros ($637 billion) worth of ultra-low interest “loans” will be delivered to European banks. This cash has been provided courtesy of the ECB, which denies that it will ever engage in printing money, like the Americans, Britons and Japanese have now done for many years. The “loans” are for a 3-year [...]

Spot gold edged up 0.4 percent to $1,611.96 an ounce Posted: 23 Dec 2011 12:15 AM PST Gold inched higher on Friday in thin trade, taking cues from higher equities after upbeat U.S. economic data encouraged investors, while the persistent gloom hanging over the euro zone weighed on sentiment. Data showing a drop in U.S. jobless claims encouraged modest gains in equities and commodities. The euro traded steady, on track to end the [...]

Gold remains good hedge against inflation Posted: 23 Dec 2011 12:04 AM PST It is funny to witness how investor confidence went haywire when prices of gold tumbled $1,560.97 in the middle of December. It is as if many have forgotten that while the yellow reached record highs of $1,915 per ounce in August 2011, this was well below the real high of $2,500 per ounce in 1980. [...]

Russia’s gold and FX reserves shed almost $12 billion last week Posted: 22 Dec 2011 11:57 PM PST Russia’s gold and foreign exchange reserves shed almost $12 billion last week, their biggest decline since January 2009, the central bank’s data showed on Thursday. The reserves fell to $501.3 billion in the week to Dec. 16 from $513.0 billion a week earlier, but still remained the world’s third biggest and large enough to absorb [...]

Gold futures rose by Rs 72 to Rs 29,770 per 10 grams Posted: 22 Dec 2011 11:43 PM PST Gold futures rose by Rs 72 to Rs 29,770 per 10 grams today as speculators created fresh positions on the back of a firming trend overseas and rising demand in the domestic spot market. At the Multi Commodity Exchange, gold for delivery in February rose by Rs 72, or 0.26%, to Rs 27,770 per 10 [...]

Gold inched higher on Friday in thin trade Posted: 22 Dec 2011 11:30 PM PST Gold inched higher on Friday in thin trade, taking cues from higher equities after upbeat U.S. economic data encouraged investors, while the persistent gloom hanging over the euro zone weighed on sentiment. Data showing a drop in U.S. jobless claims encouraged modest gains in equities and commodities. The euro traded steady, on track to end the [...]

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