Vietnam Gold Traders Association has called for the removal of the 10 per cent tariff on gold jewellery products which have more than 80 per cent gold content.
HANOI(BullionStreet): Vietnam's central bank, The State Bank of Vietnam said gold is not an essential item and the price difference between domestic and global prices had not impacted the macro-economy.
According to SBV governor Nguyen Van Binh the bank will sell gold at good prices to support when the gold market experiences unfavorable changes, such as a liquidity problem, only to support it and not to stabilize prices.
Gold prices in Vietnam climbed upto a high of VND4 million per tael higher than the world’s levels. ...