Gold prices nearly reach VND19 million

Local gold prices increased to VND18.8 million ($1,074) per tael (1.3 oz) Feb 6, VND300,000 ($17) higher than two days ago.

The Saigon Jewelry Joint Stock Co. bought gold at VND18.8 and sold at VND18.88 million per tael.

The Phu Nhuan Jewelry Joint Stock Co. bought gold at VND18.76 and sold at VND18.85 million per tael.

The domestic gold price is VND330,000 lower than the global price, which is around $918 per ounce.

Experts suggest investors should consider carefully before buying a large amount of gold, as gold prices are expected to wildly fluctuate in the current economic climate.

VietNamNet/TN

>   Export tax on coal halved (09/02/2009)

>   Techcombank plans to lend $2.9 bln under loan subsidy program (09/02/2009)

>   Gov’t backing for company borrowings to partially help: Business (07/02/2009)

>   Sweeping tax cuts designed to stimulate economy (06/02/2009)

>   Gold prices unexpectedly increase to VND18.8 million per tael (06/02/2009)

>   Monthly Information on Banking Activities (January, 2009) (06/02/2009)

>   Vietnam says ‘no’ to dong devaluation (06/02/2009)

>   Import tax rate of petrol reduced by 10 percent as of February 10 (06/02/2009)

>   Conferences on credit operations and implementation of PM’s Decision No.131 (06/02/2009)

>   Banks kick off interest rate-subsidized loaning (06/02/2009)