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Tuesday, 4th May 2004 (4236 views)

Latest figures have shown that this year Vietnam has imported over 15 tonnes of gold.<BR/><BR/>The increase is attributed to a high local market gold price, whilst prices for the precious metal on the world market have experienced a steep drop, according to the Vietnam News Agency.<BR/><BR/>Also helping to boost value is the fact that gold smuggling has been reduced thanks to a reduction in the gold import tariff and granting of import quotas.<BR/><BR/>At present the local gold price is five per cent more than the world market, standing at least 400,000 VND per tael.<BR/><BR/>Figures are based on findings from the State Bank from the first four months of this year.

 

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