Dinar Daily
Would you like to react to this message? Create an account in a few clicks or log in to continue.

Get Daily Updates of the NEWS & GURUS in your EMAIL
CHECK YOUR EMAIL for VERIFICATION

Enter your email address:

Vietnam Spends $1.5Bln Importing Gold in 9M/2011 DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

Vietnam Spends $1.5Bln Importing Gold in 9M/2011

Post new topic   Reply to topic

Go down

Vietnam Spends $1.5Bln Importing Gold in 9M/2011 Empty Vietnam Spends $1.5Bln Importing Gold in 9M/2011

Post 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




*****************
"WHEN THE POWER OF LOVE OVERCOMES THE LOVE OF POWER, THE WORLD WILL KNOW PEACE"
lexie
lexie
Elite Member
Elite Member

Posts : 1812
Join date : 2011-06-24

View user profile

Back to top Go down

Back to top

- Similar topics

 
Permissions in this forum:
You can reply to topics in this forum