Vietnam Business News

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• 2012 gold market outlook
• Gold will soon target $2400/oz: Citi Bank
• Belarus’s gold and FX reserves rose to $7.9 billion
• Gold outperforms even the best UK funds
• Vietnam’s gold export estimated at 35-38 tonnes in 2011
• Australia diamonds sale to hit $600 million this year
• What would it take to burst gold’s price?
• HSBC cuts platinium from $1,875 to$1775; Palladium from $810 to$785
• Gold to achieve 12th consecutive yearly price gain – Deutsche Bank
• Vietnam gold sector remains in doldrums

2012 gold market outlook Posted: 07 Jan 2012 01:30 AM PST All things considered, gold was a strong performer in 2011. Investing in the metal was undeniably a volatile ride that included some steep declines. Still, when compared to global indexes, gold proved it still has star power. The majority of professional market watchers appear to believe that 2012 will be another good year for gold. But, [...]

Gold will soon target $2400/oz: Citi Bank Posted: 07 Jan 2012 01:22 AM PST Gold prices will target $2400/oz in a snap back rally as the current sell-off is overdone, says Citi Bank analyst Tim Fitzpatrick. He however cautions that prices could fall to $1550 before resuming its upside move. “Unless and until we see a weekly close below $1,535, we believe the uptrend in Gold has resumed and a [...]

Belarus’s gold and FX reserves rose to $7.9 billion Posted: 07 Jan 2012 01:00 AM PST Belarus’s gold and foreign exchange reserves rose over the New Year to $7.9 billion, the central bank said on Friday, due in part to the $2.5 billion paid by Russia’s Gazprom for control of pipeline operator Beltransgaz. Belarus reserves were depleted in 2011 as the country fought a severe financial crisis that devalued the Belarussian [...]

Gold outperforms even the best UK funds Posted: 07 Jan 2012 12:46 AM PST How a lump of gold bullion has beaten the City of London’s brightest and best since 2007. Adrian Ash looks at gold’s performance against the best UK funds. How quickly time flies! The global financial crisis will mark its 5th birthday in 2012. And now it’s out of short trousers, let’s see who coped best [...]

Vietnam’s gold export estimated at 35-38 tonnes in 2011 Posted: 07 Jan 2012 12:45 AM PST Vietnam’s export for gold and its products (called gold) in 2011 was estimated at about $2.1 billion while the country’s import value from gold in 2011 was estimated at $1.9 billion, the local newspaper VnEconony cited leader of General Statistics Office (GSO), Le Thi Minh Thuy, as saying on January 3, 2012. Basing on the [...]

Australia diamonds sale to hit $600 million this year Posted: 07 Jan 2012 12:37 AM PST (BullionStreet) : Australia can cover a major chunk of global diamond demand, projected due to output cuts by major producers, this year, according to research consultancy IBISWorld. In its Fly or Fall report for 2012, IBIS predicts diamond industry will surge to record highs and drive up demand for Australia’s diamonds by 38 per cent [...]

What would it take to burst gold’s price? Posted: 07 Jan 2012 12:34 AM PST No one ever said gold was an asset for the faint-hearted. Or indeed, for anyone who doesn't enjoy an argument. To some it is the only true form of money, a king over the water just waiting to be re-installed on its rightful throne once the impostors are cleared out of the way. To others, [...]

HSBC cuts platinium from $1,875 to$1775; Palladium from $810 to$785 Posted: 07 Jan 2012 12:28 AM PST Platinum group metals are likely to rally in 2012 mainly due to supply tightness, although the bank has lowered its price forecasts after a weak fourth quarter, said HSBC in a research note. According to HSBC, platinum mine supply increases in South Africa are limited due to many factors, including power shortages, insufficient technical expertise [...]

Gold to achieve 12th consecutive yearly price gain – Deutsche Bank Posted: 07 Jan 2012 12:02 AM PST Deutsche Bank said Friday negative real interest rates, central bank buying, dollar weakness and prospects for a European Central Bank balance sheet expansion augur well for gold prices to achieve a 12thconsecutive annual gain. The bank also said gold prices will need to top $2,100 per troy ounce to be “considered excessive and for the market to start [...]

Vietnam gold sector remains in doldrums Posted: 06 Jan 2012 11:44 PM PST Gold sector in Vietnam remained paralyzed after country’s efforst to stabilize the markets backfired as the price gapo between domestic and global prices continued to climb. Analysts said gold smuggling activities have become more bustling in the country as local gold prices maintained a steady 2 to 3 million dong per tael than the world’s [...]

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