Vietnam Business News

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• China produced 32.61 tonnes of gold in November
• Is gold in a bubble now?
• Thailand gold prices for Jan 12
• U.S. gold gained 0.4 percent to $1,646.50
• Output returning to normal at world’s biggest gold mine
• Gold prices edged higher on Thursday
• Is gold Asia’s fatal attraction?
• China, India buying support gold’s strength on Thursday
• Vietnam to import 10 mln tonnes of coal by 2015
• Vinatex mulls performance plans

China produced 32.61 tonnes of gold in November Posted: 12 Jan 2012 01:31 AM PST China produced 32.61 tonnes of gold in November, up 2.7 percent from the previous month, the Ministry of Industry and Information Technology said on Thursday. Total output for the first 11 months of the year rose 4.85 percent or 14.97 tonnes to 323.36 tonnes, it said in a statement. Following is a table of production in 2011, based on official figures [...]

Is gold in a bubble now? Posted: 12 Jan 2012 01:30 AM PST For as long as there have been financial markets, there have been bubbles. They are a necessary component of capitalism that occur in every sector across every market. A bubble is essentially a situation when prices become overinflated for reasons that have nothing to do with the fundamentals of the asset. The most notorious of [...]

Thailand gold prices for Jan 12 Posted: 12 Jan 2012 01:11 AM PST The Gold Traders Association this morning set the buying price at 24,826.32 baht per baht-weight for gold ornaments and 24,650 baht per baht-weight for gold bar. The selling prices were set at 25,150 baht per baht-weight for gold ornaments, and 24,750 baht per baht-weight for gold bar.

U.S. gold gained 0.4 percent to $1,646.50 Posted: 12 Jan 2012 01:10 AM PST Gold prices edged higher on Thursday on concerns about the euro zone debt crisis ahead of Spain’s bond auction and a European Central Bank meeting, as robust buying from China and India also supported sentiment. Bullion built on gains from the previous two sessions, even as the euro wallowed near a 16-month low hit on Wednesday, after Fitch warned the [...]

Output returning to normal at world’s biggest gold mine Posted: 12 Jan 2012 01:04 AM PST Freeport McMoRan Gold & Copper Inc’s Indonesia’s unit said on Wednesday it continued to ramp up production at its Grasberg mine where workers on Tuesday halted a gradual return at the end of a three-month strike. “Freeport Indonesia continues to ramp up production and work with the union on worker mobilization,” spokesman Ramdani Sirait said in an email to Reuters. Freeport [...]

Gold prices edged higher on Thursday Posted: 12 Jan 2012 01:01 AM PST Gold futures moved higher in electronic trading Thursday, putting the metal on track for a third session of gains. Gold for February delivery  added $3.60, or 0.2%, to $1,643.20 an ounce on the Comex division of the New York Mercantile Exchange during Asian trading hours. The metal notched its highest settlement price for a most-active contract [...]

Is gold Asia’s fatal attraction? Posted: 12 Jan 2012 12:12 AM PST The listing of Chow Tai Fook, the world's biggest jeweller, on the Hong Kong Exchange last month went off with a whimper rather than the thud that many were expecting. Blame the recent correction in gold prices. The company, which runs about 1,500 jewellery shops in China, Hong Kong, Macau and Taiwan, had rea­died its [...]

China, India buying support gold’s strength on Thursday Posted: 12 Jan 2012 12:11 AM PST Gold futures moved higher in electronic trading Thursday, putting the metal on track for a third session of gains. Gold for February delivery  added $3.60, or 0.2%, to $1,643.20 an ounce on the Comex division of the New York Mercantile Exchange during Asian trading hours. The metal notched its highest settlement price for a most-active contract [...]

Vietnam to import 10 mln tonnes of coal by 2015 Posted: 12 Jan 2012 12:03 AM PST Vietnam will have to import 10 million tonnes of coal per year by 2015, and 60 million tonnes by 2020, the Vietnam National Coal and Mineral Industries Group (Vinacomin) said at a meeting yesterday.At the meeting regarding Vinacomin's main tasks this year, Deputy Minister Hoang Trung Hai said that it is not simple to import [...]

Vinatex mulls performance plans Posted: 12 Jan 2012 12:03 AM PST Vinatex will strive to finalise its divestment plan from non-core businesses before the end of 2013. "Vinatex's investment portion into non-core businesses is low compared to some other state groups. Hence, we hope our divestiture plans from investees will not be fraught with difficulties," said Vinatex deputy director Le Tien Truong. In fact, Vinatex's total [...]

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