Sign up | Log in



Home  >>   Daily News  >>   Vietnam   News  >>   Economy  >>   Gold Demand to Soar in Vietnam
NEWS UPDATES 27 August 2010

Gold Demand to Soar in Vietnam

Related Stories

August 18, 2010
Vietnamese banks depreciate local currency

August 5, 2010
 Vietnam targets speculation, price rises

July 30, 2010
Vietnamese firms prosper

Gold demand in Vietnam, which consumes more of the precious metal per capita than India or China, is set to increase as the third devaluation in the past year and a stock-market slump combine to spur sales.

The government devalued last week to boost exports and shore up the nation’s trade deficit, driving the dong to a record low. Vietnam’s benchmark stock index has

slumped into a so-called bear market, plunging by more than 20 percent from a high in May. Gold priced in dollars reached a record in June on concern that the global recovery may falter.

“Gold and strong foreign currencies, like U.S. dollars, will draw investment from Vietnamese people, especially with the recent declines in the stock market and the

devaluation of the dong,” said Nguyen Hoang, a Hanoi-based analyst at Vietnam Gold Business, which trades the metal for banks and companies.

Immediate-delivery gold surged to an all-time high of $1,265.30 an ounce on June 21 over concern that the economic recoveries in the U.S. and Europe were losing

momentum. The metal was at $1,235.90 at 3:17 p.m. in Singapore today and is set for a 10th annual gain, buoyed by central-bank buying and increased investor holdings in exchange-traded funds

Reach Southeast Asia!
10- Nations, 560- Million Consumers
And $1 -Trillion Market
We are the Voice of Southeast Asia Media Kit
The only Media Dedicated to Southeast Asia Advertising Rates for Magazine
  Online Ad Rates

Comment on this Article. Send them to

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below




1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

Our Products | Work with us | Terms of Use | Site Map | Privacy Policy | Refund Policy | Shipping/Delivery Policy | DISCLAIMER |

Version 5.0
Copyright © 2007-2015 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand