Wider gold option to be available

Sunday, May 18, 2008
Asia Commercial Joint Stock Bank (ACB) is in its last phase of installing a gold sheet manufacturing line, ACB’s General Director Ly Xuan Hai has said.

The line is going under experimental operation and scheduled to introduce first ACB gold sheets of 1.2 and 10 taels to the market in June.

According to Sacombank’s CEO Dang Van Thanh, the bank is about to introduce gold sheets under “Than Tai” trademark to the market in July. The bank has also planned to bring a gold services company into operation.

The World’s Gold Council said Vietnam is one of the biggest gold consumers. The volume of gold traded in Vietnam each day increased from 500kg in 2002 and then 2 tonnes by 2007.

At its hieght, up to 19 tonnes of gold are traded daily.