Gold prices increase sharply

Early this week, domestic gold prices rose by VND320,000/tael more than the value last weekend.

At 11am on October 11, SJC gold in Hanoi was listed at VND32.65-32.77 million/tael.

Meanwhile, in Ho Chi Minh City, Da Lat, Nha Trang and Can Tho, gold hovered at around VND32.65-32.73 million/tael.

The State Bank of Vietnam has announced license grants to 10 Vietnamese businesses to import gold, amounting to a total of 3 tonnes, that has made domestic gold prices follow closely behind world gold prices.

In the Asian market, gold prices fluctuated between US$1,352-1,353 per ounce, up US$5 per ounce against the previous week.   

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>   Securities boom gives way to gold rush (11/10/2010)

>   Lifted import quota cools gold rush (10/10/2010)

>   Vietnam grants new gold import licenses, quotas (09/10/2010)

>   Central bank may allow gold imports (08/10/2010)

>   Gold returns to record (07/10/2010)

>   Central bank considers importing gold (07/10/2010)

>   Gold price sets new record of VND33 million/tael (06/10/2010)

>   Gold may climb to 33 million dong per tael (05/10/2010)

>   High gold price fails to deter shoppers (05/10/2010)

>   Gold hits new high (04/10/2010)