Vietnam gold price added up VND0.32 million a tael on Friday morning

Vietnam gold price was added up VND0.32 million a tael from yesterday close to VND43.47 million a tael on Friday morning despite the world gold prices continued falling last night in New York.

SJC Hanoi quoted at VND43.05million/tael for bid and VND43.47 million/tael for ask, respectively as of 8:57 am, Hanoi time.

SJC in the free market was listed at VND43.30-43.55 million/tael for bid and ask, respectively.

Sacombank-SBJ gold prices were listed at VND43.05-VND43.45million/tael for bid and ask, respectively.

Rong Thang Long gold, a product of Bao Tin Minh Chau company was trading at VND42.10 million/tael and VND42.50 million/tael for bid and ask, respectively.

Global Markets: Gold Down In Both New York and Asia

In New York last night, gold was down to settle below $1,611 an ounce on the dollar strength.

Spot gold was down 0.5% to settle at $1,605.89 an ounce. U.S. gold futures for February delivery lost $3 an ounce at $1,610.60.

At Kitco Floor this morning, spot gold was quoted at $1,609.50 -1,610.70 as of 9:08 am, Hanoi time.

Investors remain cautious on the euro zone debt crisis, pressuring the European’s single currency. Gold is now moving in line with assets seen as higher risk, like stocks and the euro.

“People are not looking at gold as a safe haven, and that is one of the reasons for this lacklustre performance. I wouldn’t be surprised to see further weakness in gold prices going forward.” Reuters quoted Eugen Weinberg, Commerzbank analyst as saying.

The threat of mass credit ratings downgrades for euro zone countries is still hanging over the market, with Standard & Poor’s yet to announce if it will cut ratings on any of the 15 countries it has on credit watch negative.

Tags: Gold analysis, Gold future prices, Gold futures, Gold investment, Gold news, Gold price, gold price forecast, Gold prices, price of gold, Spot gold, Spot gold price, Vietnam gold prices

Posted by admin on Dec 23 2011. Filed under Gold price. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry