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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

GLD 366.54

+1.2%

4:00 PM EST

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To: carranza2 who wrote (36023)	6/23/2008 9:54:38 PM
From: TobagoJack	Read Replies (1) of 217543

just in in-tray yes...and here's a novel trade deficit reduction scheme for you.... Vietnam suspends gold import to tame trade deficit Commodity Online HANOI: Vietnam has chosen a novel method to contain trade deficit that has tripled this year—temporarily ban gold imports. Vietnam, the second largest gold investor in the world has already imported 60 tonnes of gold valued at US$ 1.8 bn, a 100 percent increase over the same period last year. The price of gold was quoted by local dealers at around $US873 an ounce, lower than international prices The suspension of gold imports is not likely to raise domestic prices because of plentiful supplies and weak demand. This is as part of the country’s effort to rein in inflation. But traders added only a prolonged suspension could cut domestic supplies and trigger a scramble for safe-haven assets. Fears that the dong could fall in value are making dollar holders reluctant to let go of their foreign exchange. Traditionally, Vietnamese use gold for savings, jewellery and real estate transactions but when inflation is high many choose gold or the U.S. dollar to hedge against inflation.

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