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SBV to resume gold auctions if demand rises: paper

SBV to resume gold auctions if demand rises: paper

May. 16 | A representative of the State Bank of Vietnam (SBV) in Ho Chi Minh City said on May 14 the central bank would inject gold into the market through auctions if demand increases in the coming days, according to a local newspaper. The Saigon Times Daily on...

Vietnam to import 30 tons of gold this year

Vietnam to import 30 tons of gold this year

May. 29 | The State Bank of Vietnam (SBV) this year will be selling more than 30 tons of gold and importing a corresponding volume to help banks maintain their gold positions and meet market demand, said a source from the central bank. Since late March, SBV has...

State Bank holds second bullion gold auction

State Bank holds second bullion gold auction

Apr. 5 | The State Bank of Vietnam organises the second auction of bullion gold on April 4. The same amount of 26,000 taels of gold will be up for bids with the reference price of 43.61 million VND per tael, around 100,000 VND lower than prices on the market....

2,000 taels of gold sold in first bidding

2,000 taels of gold sold in first bidding

Mar. 29 | As many as 2,000 taels of gold were sold at 43.81 million VND (about 2,100 USD) each in the first gold bullion bidding held by the State Bank of Vietnam (SBV) on March 28. Two out of the 21 registered credit institutions and enterprises won the bidding....

Gold market again catches the eye

Gold market again catches the eye

Mar. 26 | In its March 20 statement, the State Bank (SBV) affirmed the Saigon Jewelry Company (SJC) was tasked with SJC gold bar processing for the SBV, but SJC chairman Le Hung Dung denied declaring the gold bullion amounts SJC would process for the SBV. With...

Central bank extends gold policy

Central bank extends gold policy

Mar. 15 | The State Bank of Vietnam will also buy and sell non-SJC made gold bars, according to a circular it issued on March 12. The circular, which took effect on March 13, stipulates that 99.99 percent pure SJC gold will retain pride of place, but the bank will...

Gold bidding mechanism not a miracle drug

Gold bidding mechanism not a miracle drug

Mar. 7 | Whether the domestic gold price decreases to come closer to the world price depends on the amount of gold the State Bank would put into circulation and the people’s confidence on the bank’s policies. Right after the watchdog agency stated it would...

SBV rolls out gold market measures

SBV rolls out gold market measures

Feb. 20 | The State Bank of Vietnam (SBV) has developed several measures to closely monitor and control the domestic gold-bullion market. Beginning after the Tet (Lunar New Year) holiday, credit institutions licensed to trade gold bullion will be required to determine...

Gold loans remain an obsession to banks, individuals

Gold loans remain an obsession to banks, individuals

Jan. 30 | 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. Thuy,...

Foreign investors in VN believe they are sitting on gold mine

Foreign investors in VN believe they are sitting on gold mine

Jan. 21 | Despite some worries about Vietnam’s national economy performance, foreign investors in Vietnam still believe that Vietnam is a “gold mine.” Vietnamese sell, foreigners buy In late 2012, the financial investment circle was stirred up by the information...