Bullion edges up in Vietnam

Price of gold in Vietnam edged up VND140,000 a tael (1.2 ounces) on July 4, after surge in global price.

Saigon Jewelry Company, the biggest gold processer and trader in Vietnam, bought gold at VND41.95 million, and sold at VND42.10 million in HCMC; and VND42.12 million in Hanoi and the central city of Da Nang at 10.00am Vietnamese time.

Hanoi-based Phu Quy Jewelry Company quoted price at VND42.03 million for buying, and at VND42.10 million for selling at 9.35am Vietnamese time.

The Vietnam Export Import Commercial Joint Stock traded dollar at VND20,850 and sold at VND20,910 for notes of US$50-100; at VND20,840 and sold at VND 20,910 for notes of $5-20 and notes under $5 were bought at VND20,830 and sold at VND20,870 at 11.09am Vietnamese time.

The Asia Commercial Bank bought the greenback at the same rate at 10am Vietnamese time.

Internationally, gold may climb for a second day on signs of increased investment demand and on speculation that central banks will take more steps to boost growth.

August-delivery bullion fell as much as 0.4 percent to $1,614.60 an ounce on the Comex in New York, and was last at $1,618.30, after a 1.5 percent gain yesterday. U.S. markets are closed today for Independence Day holiday.

Spot gold changed little at $1,617.40 an ounce by 11.40am in Singapore, after swinging between gain and loss. The metal climbed 1.3 percent yesterday to a two-week high.

Spot silver fell for the first time in four days, dropping as much as 0.6 percent to $28.1025 an ounce, before trading at $28.11. Cash platinum changed little at $1,489.25 an ounce, paring an earlier decline of 0.4 percent.

Spot platinum rose to a two-week high of $1,485.75 an ounce, on course for a fourth straight session of climbs. Spot palladium gained 1 percent to $600.25, extending a nearly 4 percent rally in the previous session after data showed unexpected strong U.S. auto sales in June.

By Uyen Phuong

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