Vietnam Business News

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• Spot gold edged down 0.3 percent to $1,588.29 an ounce
• BIDV’s IPO: employees register to buy 42 pct shares
• Pham Nhat Vuong remains richest man on Vietnamese stock market
• Investment funds complain it’s difficult to find places to pour money
• Gold price to rise in 2012: VGTA General Secretary
• U.S. gold also inched down 0.3 percent to $1,590.5
• Goldman Sachs forecasts $1,810 average gold price in 2012
• Gold prices slid further away from the $1,600-an-ounce level Wednesday
• Gold futures prices fell marginally by 0.09 per cent to Rs 27,627 per 10 grams today
• Silver futures lost 0.15% to Rs 53,836 per kg today

Spot gold edged down 0.3 percent to $1,588.29 an ounce Posted: 28 Dec 2011 01:00 AM PST Gold edged lower on Wednesday, tracking falls in industrial metals and equities, as concerns about global economic growth weighed on market sentiment amid thin year-end trading volumes. Investors were cautious as the latest data out of the United States sent mixed signals. Improving labor market conditions lifted consumer confidence to an eight-month high in December, [...]

BIDV’s IPO: employees register to buy 42 pct shares Posted: 28 Dec 2011 12:59 AM PST The IPO (initial public offering) of Bank for Investment and Development of Vietnam (BIDV) will be the share offering with the biggest volume in 2011 and have attracted the second biggest number of registered investors in Vietnam so far, Pham Minh Tuan, BIDV’s deputy general director said. Of the total nearly 141 million shares being [...]

Pham Nhat Vuong remains richest man on Vietnamese stock market Posted: 28 Dec 2011 12:59 AM PST Pham Nhat Vuong is still the richest investor on the Vietnamese stock market, with assets of more than VND17 trillion (USD808.71 million) this year. His total value is almost nearly equivalent to the combined assets of the five following people on the list. Vuong, a member of the Board of Director of Vincom Joint Stock [...]

Investment funds complain it’s difficult to find places to pour money Posted: 28 Dec 2011 12:59 AM PST Vietnam proves to be a large market for investors to seek their opportunities. However, investment funds now complain that it's difficult to find reasonable projects to inject money in. The decisions to withdraw capital by investment funds made in the first months of 2011 once raised the worry that a new wave of withdrawing capital [...]

Gold price to rise in 2012: VGTA General Secretary Posted: 28 Dec 2011 12:33 AM PST Global gold price will continue to soar in 2012, Dinh Nho Bang, deputy chairman cum general secretary of Vietnam Gold Traders Association (VGTA) told local online newspaper Vietnam Economic Forum. "Investors will return to gold as a safe haven investment amid high inflation and economic uncertainty, which partly helps the global gold price to maintain [...]

U.S. gold also inched down 0.3 percent to $1,590.5 Posted: 28 Dec 2011 12:30 AM PST Gold edged lower on Wednesday, tracking falls in industrial metals and equities, as concerns about global economic growth weighed on market sentiment amid thin year-end trading volumes. Investors were cautious as the latest data out of the United States sent mixed signals. Improving labor market conditions lifted consumer confidence to an eight-month high in December, [...]

Goldman Sachs forecasts $1,810 average gold price in 2012 Posted: 28 Dec 2011 12:15 AM PST The gold price slid $13.89, or 0.9%, to $1,594.92 per ounce Tuesday morning amid modest declines in the broader commodities complex.  Silver fell $0.42, or 1.4%, to $28.85 per ounce alongside the price of gold.  Equity markets in Asia and Europe were mixed, while U.S. markets looked to open slightly lower after a worse than expected [...]

Gold prices slid further away from the $1,600-an-ounce level Wednesday Posted: 28 Dec 2011 12:06 AM PST Gold prices slid further away from the $1,600-an-ounce level during Asian hours Wednesday, unable to get much support as buying interest was found wanting in thin year-end trade. The February gold futures contract  fell $5.90, or 0.4%, to $1,589.60 an ounce in electronic trading. Prices fell $10.50 on the Comex division of the New York Mercantile [...]

Gold futures prices fell marginally by 0.09 per cent to Rs 27,627 per 10 grams today Posted: 28 Dec 2011 12:00 AM PST Gold futures prices fell marginally by 0.09 per cent to Rs 27,627 per 10 grams today, tracking a weak trend overseas on concern that an escalation of Europe’sdebt crisis may weigh on global growth. In addition, subdued demand in the domestic spot market at prevailing levels put pressure on gold pricesin futures trade here. At the Multi Commodity [...]

Silver futures lost 0.15% to Rs 53,836 per kg today Posted: 28 Dec 2011 12:00 AM PST Silver futures lost 0.15% to Rs 53,836 per kg today, as speculators reduced their positions, tracking a weakening trend overseas on concern Europe’s debt crisis may escalate and weigh on global growth. At the Multi Commodity Exchange, May silver fell by Rs 80, or 0.15%, to Rs 53,836 per kg, with a business turnover of [...]

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