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The State Bank of Vietnam is instituting a de facto nationalisation of Vietnam’s gold market, in an effort to restore confidence in the country’s currency – the dong. Vietnam is suffering from a growing current account deficit and record-high inflation. The government's new measures will have unpleasant side effects, as ...
Vietnam's economy is facing hard times and the communist government is desperately seeking ways to solve the crisis affecting the country. In the past two years the Vietnamese central bank has taken a series of measures aimed at avoiding further capital flight from the country. Measures taken by the government thus far include greater ...
The Vietnamese central bank has announced that it will take over Saigon Jewellery Company (SJC), the country's largest gold dealer. This move will have a strong impact on the local gold market, since SJC has a 90% market share. The Vietnamese government aims to control the national gold market via its central bank. The Bank of Korea has ...
The communist government of Vietnam has announced further moves aimed at controlling the nation’s gold market. The state bank of Vietnam has announced that it will cut down the number of gold bar producers that are allowed to legally operate in the country. All companies with less than 500 billion dong in funds will not be allowed ...
The Vietnamese government’s attempt to tighten their control over the domestic gold market is facing growing resistance. The government has recently introduced gold export quotas and export taxes of 10% on gold jewellery with a purity of 99.9%. The State Bank of Vietnam also plans to extend the taxation on jewellery with a gold ...
Vietnam‘s gold price traded at a new all-time high of 39.6 million dong ($1,931) per tael (1.21 ounces) last week; the country’s inflation rate hit 22.16% in June, and more and more Vietnamese people are buying gold and silver in an effort to protect their savings from currency depreciation. Given the continuing strength in ...
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Gold:Gold Buy Rates |
$44.5767/gg $1,386.50/oz |
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Silver:Silver Buy Rates |
$0.7188/gg $22.36/oz |
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Platinum:Platinum Buy Rates |
$46.5936/pg $1,449.20/oz |
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Palladium:Palladium Buy Rates |
$23.2148/pd $722.10/oz |
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