Vietnamese people are busy speculating gold

Gold trading is quite common around the world , but it has a higher gold futures threshold. Of China's gold futures trading on January 9 by the Shanghai Futures Exchange launched trading less than a month . However, the Vietnamese are keen to sell gold , gold futures are not uncommon . Because since last May , they have been able to Ho Chi Minh City Gold Exchange gold futures up .
Average daily trading volume of 100,000 two
Ho Chi Minh City Gold Exchange in a small room , customers are huddled together watching the 14-inch screen, the screen is on the buy and sell orders as well as gold and silver in international crude oil prices .
According to Reuters, Ho Chi Minh City Vietnam Gold Exchange is currently the only Gold Exchange , Vietnam 's Asia Commercial Bank owned , including Ho Chi Minh, the main supplier of gold jewelry companies, including nine units of its members. Individual investors in this nine member units orders, trading gold futures . Since its inception last May , Ho Chi Minh City Gold Exchange average daily trading volume remained at 90000-100000 two , worth about $ 100 million .
Exchange launched from the point of view of gold futures contracts , the minimum trading unit of 10 two , the margin ratio is 10%. With 1000 g of the Shanghai Stock Exchange gold futures smallest unit and 11 % margin compared to lower the threshold in Vietnam gold futures .
Compared with physical gold , futures funds used with less strong liquidity and low transaction cost advantages. Into January , the international price of gold in the high shock, Ho Chi Minh City Gold Exchange, trading volume was significantly enlarged , January 16th trading day is a record 139,000 ounces of Records . Gold futures trading has become the Vietnamese important form of gold . However, for most small investors, trading in gold shop gold will continue to be their primary choice.
Many people trading in gold bullion
Futures need to have a good spot trading as a basis . In Vietnam, gold trading has a good " mass base ." The relative scarcity of investment goods in Vietnam , gold is the people most important investment channels.
Been to Vietnam, the Vietnamese people will surely be all over the streets of gold shop impressive. " World News" special correspondent has visited Vietnam gold shop . These jindian general store is not even possible that a private street pavement . Shop shabby, shop and no security . Vietnam gold trading is carried out in such conditions the .
Vietnamese banks generally Piyou special counter in the gold trade. Since people generally hands holding gold , gold trading is very active civil society . Vietnamese government sale of gold on the private behavior of gold shop took the attitude of acquiescence .
And the Chinese people investing primarily gold jewelry is different, Vietnamese folk traded gold bullion mainly . Gold shop in Vietnam , one can often see customers come up with a long gold bullion refers to the owner identification.
Vietnam imports each year about 80 tons of gold for gold to meet domestic needs, the country has become Asia's second largest investment in gold country of purchase . Prosperity in the country , led by gold trading , Vietnam's gold companies are constantly expanding the scale . Vietnam occupies 80% market share in the gold market in Ho Chi Minh jewelry company in northern Vietnam opened a new factory, which will be produced for all of its customers in northern enough gold .
Stock market volatility of the gold market fire
War is the leading Vietnamese people prefer to invest in gold the most important reason , because in the turbulent era , gold offers the best means of preservation . 30 years after the end of World War II , the Vietnam situation has been unstable , leading to the Vietnamese people develop a habit of gold reserves .
Since the introduction of economic reforms in Vietnam , the Vietnamese dong currency instability become major problems facing the economy . State Bank of Vietnam seems to have been busy with the issue of new par value of VND VND largest denomination now reached 50 million VND ( equivalent to 250 yuan ) . Because of VND distrust hot housing market a few years ago , the Vietnamese must be paid in gold and the dollar .
At present , Vietnam 's economy was as troubled by inflation and stock market volatility . Vietnam stock market in 2006 because of the more Shanghai Composite Index rose 144% , while in the Asian stock markets come out on top . But in 2007 the Vietnamese stock market were retired , the more Shanghai index has been hovering at around 1,000 points . Vietnam 's inflation has more than 8% for several years . In this context , more and more money turning the real estate market and gold market.
Depreciation of the dollar also contributed to a certain extent, the prosperity of the Vietnamese gold trading . As in recent years, overseas Vietnamese remitted to the huge amount of U.S. dollars in Vietnam , Vietnamese hands holding dollars can not be underestimated . Continued weakness in the dollar 's case, many people are prepared to be in the hands of the dollar into gold , which also increased the demand for gold in Vietnam .