Business & Finance
Vietnam allows to import five tonnes of gold: State Bank
HANOI : Vietnam 's central bank said on Tuesday it had allowed domestic companies to import 5 tonnes of gold to help st
HANOI: Vietnam's central bank said on Tuesday it had allowed domestic companies to import 5 tonnes of gold to help stabilise domestic markets and supplement local supply of the precious metal as prices surged to a record high.
The import would help prevent speculation, the State Bank of Vietnam said in a statement, as gold prices surged to a record 46.22 million dong ($2,249) per tael.
One tael is equivalent to 37.5 grams or 1.21 troy ounce.
Copyright Reuters, 2011
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