Gold firms turns to internet trading

Asia Gold Company on April 20 began providing investors the option to trade gold over the internet.

ACB’s gold exchange is the first of its kind in the country.

To trade gold on the internet, an investor would place buying-selling orders using an internet account, and the orders would be transmitted directly to the company’s central computers.

Investors could cancel and change the orders during the transaction, which they could not do by telephone or with brokers.

This method of gold trading is popular in other markets worldwide and has created significant success for investors, said Nguyen Phuong Duc, Deputy Director of Asia Gold Company.

“As demand increases, transactions by telephone and with brokers can not handle the demand volume. That’s why we decided to apply internet trading to meet the greater demand,” said Pham Xuan Truong, Deputy Head of the company’s Business Department.

The company opened training courses to provide investors with fundamental knowledge before implementing it.

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