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Category: Vietnam Resources News

Vietnam has an abundance of natural resources. It has, however, historically faced a number of challenges developing its mining industry. That said, Vietnam has among the world’s biggest caches of rare earth minerals and a number of countries have expressed an eagerness to help Vietnam get them out of the ground. With this in mind, this section monitors Vietnam resources news, including minerals, oil, and precious gems.

Hanoi university signs agreement with Australian mining firms

With reserves estimated to be the second biggest in the world after China, and rare earth minerals becoming increasingly necessary in a slew of electronics, miners from all over have been actively courting partnerships with Vietnamese mining firms. Needless to say, partnerships with local universities is one way for these firms to open doors…

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Vietnam C.bank still struggling to make gold auctions work

Vietnam has held its second successful gold auction this year, however, the State Bank of Vietnam–theSBV–only managed to sell 3,400 SJC gold bars, Tuoi Tre is reporting.  Of note, multiple gold auctions have been announced in the last few weeks but have been cancelled due to a lack of interest. 

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Why the State Banks gold auction failed Monday

A gold auction of State Bank of Vietnam–SBV–gold reserves slated for Monday was cancelled and a gold auction that went ahead Tuesday had just two bidders, as a result of floor prices that were too high, VN Express is reporting. It also says that the minimum volume, of 1,400 taels

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No one wants the State Bank of Vietnam’s gold

In an odd turn of events, a gold auction slated for yesterday was cancelled due to a lack of interest and a second, today, had just two bidders that bought a collective 3,400 taels of gold of the 16,400 on offer, VN Express is reporting. This is after gold auctions

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Gold auctions in Vietnam to reduce exchange rate pressure?

There is this emerging argument that the pressure on the exchange rate is partly caused by gold smuggling, for example, this article from Doanh Nhan Vietnam. The theory is that people are buying up US dollars to buy gold overseas and then smuggling it in. That may be the case,

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State Bank intends to start importing gold?

It was reported earlier this week that the State Bank of Vietnam–the SBV–intends to reinstate gold auctions, however, local media did not report where the gold was set to come from. Today VN Express reported that the SBV has asked the Ministry of Finance to smooth-out the process for importing

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State Bank of Vietnam to start auctioning gold

The State Bank of Vietnam intends to undertake a series of gold auctions in an attempt to bring down the price of gold, Tuoi Tre is reporting. The gold price in Vietnam is currently trading at a 13 percent premium to the world gold price. This will be the first

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Vietnam gold prices jump up on ‘impatient’ buyers

Recent record high gold prices in Vietnam have in part been caused by ‘impatient’ buyers, Tuoi Tre is reporting. A number of buyers were waiting for the gold price to go down but as it reached record highs they gave up waiting and bought into the market anyway pushing the

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Vietnam gold stores are running out of gold

Gold stores have been applying limits to how much gold a single customer can buy on the back of higher processes and lower supplies–some have even run out of gold entirely, according to VN Express. The arrest of a local gold smuggler made national news last week which was likely

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Vietnam gold ring prices hit record high

Gold rings were selling in Vietnam for more than VND 73 million per tael on Friday which was a record high, according to VN Express. Of note, this would make the price per troy ounce US$2,196.07. The world gold prices as of Saturday morning was US$2,329.93 per troy ounce–this would

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This opinion piece re: US dollar, gold prices in Vietnam

Penned by Nguyen Huu Huan, an economist at the Ho Chi Minh City University of Economics, this piece in The Investor makes several points about US dollar and gold prices in Vietnam. These include: Gold fever is being driven by a lack of other investment options; The rising price of

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