Vietnam gold prices fell by VND200,000 to close at VND43.1 million a tael on Wednesday morning

Vietnam gold prices fell by VND200,000 from yesterday close to VND43.1 million a tael on Wednesday morning as world gold prices eased.
Vietnam gold prices fell by VND200,000 from yesterday close to VND43.1 million a tael on Wednesday morning as world gold prices eased.

SJC Hanoi quoted at VND42.90million/tael for bid and VND43.2 million/tael for ask, respectively as of 10:30 am, Hanoi time.Sacombank-SBJ gold prices were listed at VND42.7-VND43 million/tael for bid and ask, respectively.
Rong Thang Long gold, a product of Bao Tin Minh Chau company was trading at VND41.9 million/tael and VND42.2 million/tael for bid and ask, respectively.

Gold Extends Loss to Third Day in Asia Trade, China Bans New Gold Exchange

Gold edged lower on Wednesday, on track for its third consecutive session of decline on technical selling pressure.

Spot gold edged down 0.1% to $1,589.99 an ounce by 0034 GMT. U.S. gold inched down 0.2% to $1,591.70.

“Gold failed to return to the 200-day moving average, which had been a key support level for about three years during gold’s rally and was broken two week earlier” Reuters analyst wrote.

The People’s Bank of China, China’s central bank, has announced it will not authorize the setting up of new gold exchanges in the country and banned setting up of gold trading platforms in other exchanges, the China Daily reported Wednesday.
The ban came after some institutions and individuals have set up gold exchanges and trading platforms as gold prices soared in the country, leading to a surge of illegal practices due to inadequate management.

Those which have opened for business must cease operations, the bank said in a statement.

SJC Hanoi quoted at VND42.90million/tael for bid and VND43.2 million/tael for ask, respectively as of 10:30 am, Hanoi time.

Sacombank-SBJ gold prices were listed at VND42.7-VND43 million/tael for bid and ask, respectively.

Rong Thang Long gold, a product of Bao Tin Minh Chau company was trading at VND41.9 million/tael and VND42.2 million/tael for bid and ask, respectively.

Gold Extends Loss to Third Day in Asia Trade, China Bans New Gold Exchange

Gold edged lower on Wednesday, on track for its third consecutive session of decline on technical selling pressure.

Spot gold edged down 0.1% to $1,589.99 an ounce by 0034 GMT. U.S. gold inched down 0.2% to $1,591.70.

“Gold failed to return to the 200-day moving average, which had been a key support level for about three years during gold’s rally and was broken two week earlier” Reuters analyst wrote.

The People’s Bank of China, China’s central bank, has announced it will not authorize the setting up of new gold exchanges in the country and banned setting up of gold trading platforms in other exchanges, the China Daily reported Wednesday.

The ban came after some institutions and individuals have set up gold exchanges and trading platforms as gold prices soared in the country, leading to a surge of illegal practices due to inadequate management.

Those which have opened for business must cease operations, the bank said in a statement. – Stoxplus

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 28 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