Vietnam International Jewelry Fair 2013 opens
The annual Vietnam International Jewelry Exhibition Fair, the 22nd of its kind, has been opened in HCMC
The annual Vietnam International Jewelry Exhibition Fair, the 22nd of its kind, has been opened in HCMC
While the central bank has so far sold about 55 tons of gold bullions under SJC brand to the market, the gold powerhouse said it has run out of small-valued gold bullions as demand surged in the last 2 months.
The price of the US dollar on the black market reached VND21,800 a dollar by the end of Saturday, breaking its record-high rate of VND21,700 a dollar set on Saturday morning
The price gap between the local and international gold prices, after retreating for a few days, has returned to its stubbornly high rate, over VND6 million ($282) a tael
The price gap dropped some VND1 million ($47) a tael day on day after the central bank gave a bold forecast about this on the previous day
And the price gap between international and local gold bullion will be narrowed as there will be virtually no demand from the side of the local banks after all of them had finished buying over 100 tons of gold to close their local gold accounts
While investors around the world are fleeing from gold, locals are rushing to buy gold bullion as if there is no tomorrow
The State Bank of Vietnam (SBV) has reconfirmed that its recent decree on gold management policies help the local gold market operate in a more sustainable manner than before
Stabilizing the Vietnam dong, the local currency that has not been floated, is the most important task of the central bank, not the gold price