Gold exchanges are the big winners in the mad rush to gamble on changes in the yellow metal’s price.
Gold fever is sweeping Vietnam.
It manifests itself in the burgeoning number of gold exchanges and the countless thousands of old hands and neophytes who patronize them.
It manifests itself in the burgeoning number of gold exchanges and the countless thousands of old hands and neophytes who patronize them.
Like a stock exchange, they have to buy and sell orders, computerize trading, preset stop-loss and profit-taking points, even options trading at one of them, but only a single commodity is traded.
In Ho Chi Minh City alone, there are dozens of gold exchanges, and more are planned.
Large amounts of paper gold, or rather electronic gold, change hands in the course of a day.
To give an idea of the trading volume, more than 400,000 taels of gold are bought and sold daily at the Sacombank Jewelry Company’s gold exchange on Nam Ky Khoi Nghia Street, according to its general director, Nguyen Ngoc Que Chi. Click to original source...
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