Dinar Daily
Welcome to Dinar Daily Discussions.

Logging in with your USERNAME allows you to participate in discussions, see what has recently been posted, and other options. Guests can post but they do have limited abilities.

We are NOT a guru forum. We are a dinarian forum. The opinions expressed on the forum do not reflect the of opinion of Dinar Daily specifically, but rather reflect the views of the individual posters only.


We are in compliance with, "Copyright Disclaimer Under Section 107 of the Copyright Act 1976, allowance is made for "fair use" for purposes such as criticism, comment, news reporting, teaching, scholarship, and research. Fair use is a use permitted by copyright statute that might otherwise be infringing. Non-profit, educational or personal use tips the balance in favor of fair use."

Join Us for Dinar Discussions and More -- We Keep it REAL
HomeSearchMemberlistFAQLog inRegister
Help Us Drain the SWAMP in DINARLAND

REPORT TONY RENFROW for violating his Court Order to stay away from Dinar -

Judge's email: ksd_murguia_chambers@ksd.uscourts.gov
PHONE - 913-735-2340

DA's email: Scott.Rask@usdoj.gov
PHONE - 913-551-6730

Key Words
Adam Montana, AdminBill, Benjamin Fulford, Currency Exchange, David Schmidt, Dinar, Dinar Guru, Dinar Recaps, Dinar Rv, Dinar Scam, Dr Clarke, Frank26, Gary Larrabee, Gurus, Guru Hunters, JerzyBabkowski, Kaperoni, Kenny, Monetary Reform, Mnt Goat, My Ladies, Okie, Poppy, RamblerNash, Ray Renfrow, Redenomination, Revaluation, Ssmith, TNTBS, Tnt Tony, WING IT, We Are The People, Willis Clark, WSOMN, Yosef, Zap
Post new topic   Reply to topic
Share | 

 Quiescent gold market holds breath for new regulations

Go down 
Elite Member
Elite Member

Posts : 4668
Join date : 2011-06-21
Age : 35
Location : Planet far far away

PostSubject: Quiescent gold market holds breath for new regulations   Wed Apr 18, 2012 8:52 pm

Quiescent gold market holds breath for new regulations

VietFinanceNews.com - The Vietnamese gold bullion market has gone very quiet as it waits on a Government decree vesting management of gold trading in the central bank to take effect on May 25.

Transactions are sharply down while a long-existing difference between domestic and global prices has almost closed.

This happened last week when global prices increased by US$20 to $1,647 per ounce but local rates remained unchanged and sometimes even edged down at around VND42.77 ($2,037) million per tael. (One tael is equivalent to 1.2 ounces). From a gap of VND1.7 million in mid-March per gramme/tael, it has now narrowed to around VND300,000.


An official from the Sacombank Jewellery Company (SBJ), who declined to be named, said transactions were very low at his company last week. In the past, he said, whenever world prices changed by around $10 per tael, people would rush to trade.

Nguyen Thi Cuc, deputy director of the Phu Nhuan Jewellery Company (PNJ), said last week her company had offered a slew of promotions, including a cut in prices to VND30,000-50,000 below SJC's levels.

Yet transactions were down by 50 per cent compared to a year ago, she said. SJC gold too had seen transactions slump, market observers said.

Nguyen Cong Tuong, deputy head of SJC's business office, said only around 1,000 taels were traded per day, much lower than the normal 3,000-4,000 taels.

Analysts said Decree No 24/2012/ND-CP on gold management was the likely reason for the fall in bullion trading.

Speculation had reduced significantly, they said, pointing to the narrowed gap between the world and domestic prices.

Once the decree takes effect, the State Bank of Viet Nam will be solely responsible for producing gold bullion and jewellery, a move expected to get rid of speculation.

Dr Le Tham Duong of the HCM City Banking University expects the decree, if implemented properly, to help relevant agencies manage the gold market efficiently and transparently.


Being defeated is often a temporary condition. Giving up is what makes it permanent.
Marilyn Vos Savant

Yesterday would have been better, but today is a good day

Remember as always, JMHO
Rantings from just north of sixty
Back to top Go down
View user profile
Quiescent gold market holds breath for new regulations
Back to top 
Page 1 of 1

Permissions in this forum:You can reply to topics in this forum
Post new topic   Reply to topicJump to: