February 17: Vietnam Gold Rises to 44.82m dong/Tael, Dollar Stable

18-Feb-2012 Intellasia | StoxPlus | 7:01 AM Print This Post

Vietnam gold prices were added up by VND0.34 million/tael to VND44.82 million/a tael on Friday morning. Gold flat both in New York last night and Asia this morning.

SJC Hanoi quoted at VND44.60 million/tael for bid and VND44.82 million/tael for ask, respectively as of 8:55 am, Hanoi time.

SJC Ho chi minh was quoted at VND44.60-44.80 million/tael for bid and ask, respectively.

Sacombank-SBJ gold prices were listed at VND44.50-VND44.80million/tael for bid and ask, respectively.

Rong Thang Long gold, a product of Bao Tin Minh Chau ascompany w trading at VND44.00 million/tael and VND44.40 million/tael for bid and ask, respectively.

Techcombank gold was list at VND44.60-44.80 for bid and ask, respectively.

Gold Steady in Both New York and Asia

In New York trade last night and Asia this morning, gold held steady on a dollar fall and optimism that a Greek bailout deal would be agreed next week.

Spot gold was down by 0.4 percent to $1,727.790an ounce. US gold futures for April delivery settled down $30 cents to $1728.40 an ounce. Trading volume was about 20 percent below its 30-day average, line with its recent pace.

At Kitco floor this morning, spot gold was quoted at $1,732.20-1,733.20 an ounce, for bid and ask, respectively as of 9:03 Hanoi time.

Gold got out of its previous losses on news that Athens set out extra budget savings demanded to secure a second bailout package.

Besides, market sentiment is improved on the better U.S labour, manufacturing and housing data.

The yellow metal holds 10 percent rise so far this year.

“We are seeing less concern in the Europe and strong US data. Gold will be driven by the dollar and whether Greece will get approved for a bailout package,” Reuters quoted Peter Buchanan, senior economist, CIBC World Markets as saying.

Local Dollar Stable

Vietnam’s central bank kept dollar midpoint rate at VND20,828 on Friday, unchanged since December 26,2011.

Most of commercial banks changed dollar prices today, ranged from VND20,790-20,810 for bid and VND20,850-21,036 for ask, respectively.


Category: Finance

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