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Bullion plummets below VND37 million per tael

The price of gold in Vietnam sank to VND36.92 million per tael (1.2 ounces) on November 2 as global price hit a two-week low on speculation that the US Federal Reserve would taper bond purchase. Saigon Jewelry Company bought gold at VND36.82 million per tael and sold at VND36.92 million …

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SBV Bank vows to continue gold bidding until short supply ends

Roughly 55 tons of gold has been put into dissemination through offering, which has helped restricted the crevice between the household and the global costs. However the gold interest is still exceptionally high. The worldwide gold cost climbed sharply final Thursday and Friday, while the provincial cost, which has dependably …

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Is gold still a safe place for Vietnamese wealth?

For many Vietnamese people, gold is more often thought of as an investment rather than a sparkling jewellery set. For many years now, we’ve trusted in gold. We consider it a safe, stable way of saving our money and accumulating wealth. Gold is viewed as the guarantor of our rainy …

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Two gold mining firms asked to pay VND250 billion in taxes

Officials of the Bong Mieu gold mining company in Phu Ninh district and Phuoc Son Gold Company in Phuoc Son district of the central province of Quang Nam, on July 1 said that they had asked the customs office to reconsider the export tax of nearly VND250 billion ($12 million). …

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Gold buyers disappear

Though domestic gold prices crashed by VND850,000 per tael compared to late last week, buying power declined sharply on Monday after the central bank has announced to continue supplying gold for the market. Saigon Jewelry Company (SJC) quoted gold prices at VND36.8 million and VND37.15 million per tael for buying …

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Gold low sparks spending spree

A three-year-old low in New York gold prices has provoked a rush for the precious metal in Viet Nam, sparking a price surge last weekend. On Friday, the buying and selling rates of bullion declined to roughly VND34 million and VND35 million per tael respectively, the lowest since November 2010. …

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Vietnamese gold market – against all odds

While investors around the world are fleeing from gold, locals here are rushing to buy gold bullion as if there is no tomorrow, though the local gold price is nearly VND7 million per tael more expensive than its world counterpart. As of 6:00 pm last Friday, after three days of …

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Seven banks yet to buy enough gold

The June 30 deadline for local banks to stop gold mobilization and lending is coming to a close but seven banks have still failed to secure enough gold to repay customers, said Nguyen Hoang Minh, deputy director of the HCMC branch of the State Bank of Vietnam (SBV). Among these, …

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More than 30 ton gold injected into market

In 31 gold auctions, the State Bank of Vietnam (SBV) has pumped 787,300 taels of gold, or 30.2 tons of gold, into the market. On June 14, SBV sold 25,700 taels of gold out of a total 26,000 taels offered to 11 bidders with highest bid at VND40.44 million a …

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