Vietnam Daily News

December 12: Vietnam gold gains to stay at almost 44.9m dong, dollars stable

Written by Dailynews.vn Tuesday, 13 December 2011 16:46

Vietnam gold price this morning December 12 slightly gained to stay at almost 44.9 million dong a tael (1.2 ounces) against last Saturday's closing price (44.85 million dong), while local official dollar rate was still kept at 20,803 dong, unchanged from October 28.

By 8:30 a.m Hanoi time, Saigon Jewellery Company, the biggest gold firm in Vietnam, collected gold at 44.69 million dong and sold at 44.89 million dong a tael.

Sacombank Jewellery Company bought gold at 44.69 million dong and sold at 44.89 million dong a tael.

Rong Thang Long gold, a product of Bao Tin Minh Chau company, was traded at 43.80 million dong/tael and 44.00 million dong/tael for bid and ask, respectively.

Phu Nhuan Jewlery Company bought its branded gold so-called Phuong Hoang PNJ-DAB at 44.69 million dong and sold at 44.90 million dong a tael.

Hanoi-based Phu Quy Jewellery Company purchased SJC-brand gold at 44.70 million dong and sold at 44.90 million dong.

Reportedly, if customers want to change gold of other brands into SJC gold at jewellery shops, they will have to pay an extra amount from 200,000 dong to 1 million dong for a tael of JSC gold.

On the world market, gold last Friday climbed to settle at $1,716 an ounce on news that EU leaders agreed to push for a deeper economic integration and as US consumer sentiment hit a six-month high.

Spot gold rose 0.3 percent to settle at $1,712.39 an ounce.

Gold futures added $3.40 to settle at $1,716.80. Trading volume was down.

Vietnam's central bank continued to keep the dong/US dollar exchange rate at 20,803 dong today, unchanged from October 28, after weakening the dong for 14 times since October 5,2011. The forex rate gained 175 dong per dollar, or 0.85 percent since then.

Vietcombank, Asia Commercial Bank, Eximbank and some other banks still bought the dollar at between 20,990- 21,006 dong/US dollar and sold the greenback at 21,011 dong/US dollar.

This morning, the greenback on the free market stayed at around 21,110 dong (purchase) and 21,150 dong (sell).

Source: www.intellasia.net/news/articles/finance/111350560.shtml