Latest topics
Vietnam Spends $1.5Bln Importing Gold in 9M/2011
Page 1 of 1
Vietnam Spends $1.5Bln Importing Gold in 9M/2011
by lexie Tue Oct 04, 2011 1:36 pm
October 4, 2011
Vietnam Spends $1.5Bln Importing Gold in 9M/2011
Vietnam is estimated to have spent $1.5 billion in importing gold in the first nine months of this year, including $600 million in September, the local newspaper Tien Phong (“Pioneer”) reported, citing Vietnam Ministry of Industry and Trade's data.
The figure was fourfold higher than gold import value in 9M/2010 while import of gems and precious metals skyrocketed by 323.5%.
As the gold imports soared, the total import value of import-controlled products is estimated at USD4.2 billion, up 68.5% YoY.
The gold imports shoot up after the State Bank of Vietnam, the country’s central bank, granted more gold quota for more than 10 local importers on Sept 28 to tame local gold frenzy. The SBV has licensed to import about 20 tons of gold YTD.
The central bank may also allow selective commercial banks to sell gold deposits and re-open their international gold trading accounts in an effort to pull down local gold premium.
http://www.vietfinancenews.com/2011/10/vietnam-spends-15bln-importing-gold-in.html#more
Vietnam Spends $1.5Bln Importing Gold in 9M/2011
Vietnam is estimated to have spent $1.5 billion in importing gold in the first nine months of this year, including $600 million in September, the local newspaper Tien Phong (“Pioneer”) reported, citing Vietnam Ministry of Industry and Trade's data.
The figure was fourfold higher than gold import value in 9M/2010 while import of gems and precious metals skyrocketed by 323.5%.
As the gold imports soared, the total import value of import-controlled products is estimated at USD4.2 billion, up 68.5% YoY.
The gold imports shoot up after the State Bank of Vietnam, the country’s central bank, granted more gold quota for more than 10 local importers on Sept 28 to tame local gold frenzy. The SBV has licensed to import about 20 tons of gold YTD.
The central bank may also allow selective commercial banks to sell gold deposits and re-open their international gold trading accounts in an effort to pull down local gold premium.
http://www.vietfinancenews.com/2011/10/vietnam-spends-15bln-importing-gold-in.html#more
*****************
"WHEN THE POWER OF LOVE OVERCOMES THE LOVE OF POWER, THE WORLD WILL KNOW PEACE"
lexie- Elite Member
- Posts : 1812
Join date : 2011-06-24
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum
» Phony Tony sez: Full Steam Ahead!
» Dave Schmidt - Zim Notes for Purchase (NOT PHYSICAL NOTES)
» Russia aren't taking any prisoners
» Deadly stampede could affect Iraq’s World Cup hopes 1/19/23
» ZIGPLACE
» CBD Vape Cartridges
» Classic Tony is back
» THE MUSINGS OF A MADMAN
» Minister of Transport: We do not have authority over any airport in Iraq
» Did Okie Die?
» Hello all, I’m new
» The Renfrows: Prophets for Profits, Happy Anniversary!
» What Happens when Cancer is treated with Cannabis? VIDEO
» An Awesome talk between Tucker and Russell Brand
» Trafficking in children
» The second American Revolution has begun, God Bless Texas
» The Global Currency Reset Evolution Event Will Begin With Gold, Zimbabwe ZWR Old Bank Notes
» Tucker talking Canada
» Almost to the end The goodguys are winning