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Gold trading risks and rewards
Ways to control risks and seize opportunities in gold trading was the focus of an international seminar held in Ho Chi Minh City on April 24.
Participants at the “Gold trading floor – From global practices to Vietnam realm” workshop, the first-ever of its kind in Vietnam, agreed the country’s gold market has developed strongly with more choices available to domestic investors due to the establishment of gold trading centres connected to the world market.
However, they said gold trading is a form of investment that has unpredictable risks and local investors should carefully prepare and have the skills and experience to move into the international arena.
World Gold Council of Far East Managing Director Albert Cheng praised the rapid openness of the Vietnamese gold market compared with neighbouring countries.
He said the physical gold-based Shanghai Gold Exchange and gold-securities in wholly-guaranteed physical gold as successful models.
According to an advisor of the World Gold Council in Vietnam , Huynh Trung Khanh, local demand for gold is rising, estimated at 43 tonnes in the first quarter, accounting for 57 percent of last year’s total amount.
VNA
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