Tuesday, 13th April 2004 (2674 views)

Gold bullion import charges have been halved in Vietnam this month.

The move to 0.5 per cent is hoped to help stabilise the domestic market according to the finance ministry.

At present domestic gold prices stand at around $516 for a 37.5 gram ingot, and are up 26 per cent compared to last year.

The new tariff came into effect on April 8, in an area where property prices are often quoted in gold according to Reuters.

Less than two tonnes of gold are annually produced by Vietnam along with imports of between 35 and 40 tonnes for local use.

 

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