Vietnam Business News

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• Despite recent dip, gold will provide a safe haven in 2012
• Gold hit a four-week high and broke above a key resistance on Wednesday
• U.S. gold gained 0.4 percent to $1,638
• Jeweller sees gold price on ‘the uptrend’
• Gold decree takes shape
• Spot gold edged up 0.3 percent to $1,636.89 an ounce on Wednesday
• Centamin’s Q4 gold production rose 10 percent to 58,965 ounces
• Silver shot up by 0.39% to Rs 52,770 per kg in futures trade today
• Major platinum miner to fight $28 million tax case in Zimbabwe
• Gold futures prices recovered by 0.34 per cent to 27,632 per 10 grams

Despite recent dip, gold will provide a safe haven in 2012 Posted: 11 Jan 2012 01:05 AM PST Gold prices gained 10.1% last year extending its eleventh consecutive annual gain since the bull market began in 2001.  The metal has climbed more than 17% a year, on average, since 2001, making this one of the best asset classes for investors over the last decade.

Gold hit a four-week high and broke above a key resistance on Wednesday Posted: 11 Jan 2012 12:48 AM PST Gold hit a four-week high and broke above a key resistance on Wednesday, defying a stronger dollar, as the festering euro zone debt crisis lured investors to its safety and signs of strong demand from the world’s top two consumers also supported. Short-covering after gold breached above the key 200-day moving average — $1,635.25 an ounce — [...]

U.S. gold gained 0.4 percent to $1,638 Posted: 11 Jan 2012 12:45 AM PST Gold inched up on Wednesday to flirt with a key resistance level, shrugging off a stronger dollar, as persistent uncertainties on the euro zone debt crisis lured investors to the safety of bullion. Bright economic prospects offered by Alcoa’s upbeat outlook helped push Asian shares higher, although investors refrained from riskier bets beforeItaly and Spain put up bond [...]

Jeweller sees gold price on ‘the uptrend’ Posted: 11 Jan 2012 12:45 AM PST Poh Kong Holdings Bhd expects the price of gold to hold up this year as demand stays resilient, said its head of corporate affairs, administration and human resources Margaret Hon. "Gold prices will look choppy in 2012. It is lower now, but moving forward, we foresee it will be on the uptrend. "Last year, we predicted [...]

Gold decree takes shape Posted: 11 Jan 2012 12:34 AM PST The government has required the State Bank of Vietnam to ensure its draft decree on gold trading with the State's monopoly on gold bullion production as well as the export and import of gold material for production, according to a resolution issued at the government's monthly meeting in December. The resolution dictates that the decree [...]

Spot gold edged up 0.3 percent to $1,636.89 an ounce on Wednesday Posted: 11 Jan 2012 12:01 AM PST Gold inched up on Wednesday to flirt with a key resistance level, shrugging off a stronger dollar, as persistent uncertainties on the euro zone debt crisis lured investors to the safety of bullion. Bright economic prospects offered by Alcoa’s upbeat outlook helped push Asian shares higher, although investors refrained from riskier bets beforeItaly and Spain put up bond [...]

Centamin’s Q4 gold production rose 10 percent to 58,965 ounces Posted: 10 Jan 2012 11:42 PM PST Gold producer Centamin posted a 10 percent rise in fourth-quarter output, boosted by higher production rates at its flagship Sukari project in Egypt, lifting its shares on Tuesday. Egypt-focused Centamin was hit in the second quarter by local restrictions on blasting, which, along with supply disruptions in the first quarter, forced the company to reduce [...]

Silver shot up by 0.39% to Rs 52,770 per kg in futures trade today Posted: 10 Jan 2012 11:36 PM PST Silver shot up by 0.39% to Rs 52,770 per kg in futures trade today, as speculators built up fresh positions, taking positive cues from global markets. At the Multi Commodity Exchange, March silver rose by Rs 204, or 0.39%, to Rs 52,770 per kg, with a business volume of 2,031 lots. The May delivery moved [...]

Major platinum miner to fight $28 million tax case in Zimbabwe Posted: 10 Jan 2012 11:35 PM PST

Gold futures prices recovered by 0.34 per cent to 27,632 per 10 grams Posted: 10 Jan 2012 11:35 PM PST Gold futures prices recovered by 0.34 per cent, to 27,632 per 10 grams today, as speculators created fresh positions driven by a firming global trend as a weaker dollar bolstered demand for the metal. At the Multi Commodity Exchange, gold for delivery in February rose by Rs 95, or 0.34 per cent, to Rs 27,632 per 10 [...]

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