Central Bank Sets Limits on Local Gold Production

Vietnamese enterprises are entitled to produce 63.4 tons of gold bars at most in 2008, according to an official quota just released by the State Bank of Viet Nam, the country’s central bank.

Specifically, the Ho Chi Minh City AgriBank Gold and Gems Co. is allowed to produce 1,500 kilos, Ngoc Tham Gems and Jewelry 200 kilos, Saigon Jewelry Holding Co. 50,000 kilos, AgriBank Gold and Jewelry Trading Co. 9,000 kilos, Phu Nhuan Jewelry Joint-Stock Co. 2,000 kilos and Minh Chau Bao Tin 700 kilos.

In related news, SJC (Saigon Jewelry Company) gold was listed VND50,000 higher per tael at jewelry shops yesterday in HCMC to close at VND17.32 million.

Also on the same day, world gold prices rocketed up to US$902 an ounce, up by US$16.5 compared to the previous day.

By Staff Writers – Translated by Phuong Lan

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