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Tuesday, 1st November 2005 (5044 views)

Gold prices in Vietnam are expected to hit a high following the recent peaks recorded worldwide.

According to Vietnamese newspaper Thanh Nien, experts are predicting a continued rise in gold prices that could see it hit VND nine million per tael.

This is due in part to the fact that the country does not restrict gold imports and is becoming increasingly reliant on the US dollar.

Last year the State bank of Vietnam allowed the gold industry to create trading centres for formal gold trading.

The country has one mine, Sin Quyen in Hanoi that produces both copper and gold.

Hanoi has recently hosted the 2nd Vietnam Queen of Jewellery competition, which brought together over 100 jewellers.

 

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