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gold market
Update news gold market
BUSINESS IN BRIEF 30/4
Vung Tau to host Int'l Seaports Festival; Geographical indications safeguard local trademarks; EU says will welcome Vietnam’s GI goods; Vietnam’s digital content market fetches US$1.3 billion
Gold price plunge makes investors puzzled
After the world’s gold price tumble and the heavy fluctuations of the domestic prices, the belief that gold is a safe shelter in the storm has become shaky.
Where have the 6 tons of gold gone?
The major purpose of the gold bidding is to stabilize the market. However, the goal remains unattainable after 6 bidding sessions were organized.
Gold market to have new big supply
The State Bank of Vietnam has authorized the Saigon Jewelry Company (SJC) to make bullion gold to provide to the market.
SBV trades non-SJC gold, commercial banks make fat profit
The fact that the State Bank trades non-SJC bullion gold as per the newly issued Circular No. 06 has helped commercial banks make fat profits.
Gold price plummets, people get puzzled, bankers hit the jackpot
Experts say some bankers have “swept the board” thanks to a new policy laid down by the State Bank of Vietnam.
What’ll the main markets be like in 2013?
The stock market would attract more investors in 2013, while the real estate market would still be in its hibernation.
Gold price gap widening shows the powerlessness of the policies
The gap between the domestic and international gold prices got wider after the Decree No. 24 took effect some days ago.
Gold loans remain an obsession to banks, individuals
People have complained that they have nowhere to deposit gold. Banks have said they are meeting a trouble that they still cannot collect debts because the loans have yet come matured, while they have to stop mobilizing gold deposits by June 30, 2013.
Official gold market tightening would generate underground gold market
Once the State Bank tightens the management over the gold market by setting higher requirements on gold trading entities, a black market would be established.
It’s now turn for jewelry gold to be put under strict control
The State Bank of Vietnam plans to issue new regulations aiming to tighten the management over the jewelry gold trade. Jewelry gold shops must make re-registration to continue their operation.
SBV's action to prevent banks’ gold speculation will help?
The State Bank of Vietnam has, for the first time in history, has set a cap on the commercial banks’ gold position, an action that aims to restrict the gold speculation.
Gold still hot though banks stopped accepting gold deposits
Commercial banks had to stop mobilizing capital in gold and lending in gold on November 25, as per a decision by the State Bank of Vietnam. However, contrary to all predictions, the gold price has soared.
