Gold fell the most in three months
after the Federal Reserve further reduced U.S. monetary stimulus
and more officials predicted a rise in interest rates in 2015,
curbing demand for the metal as a store of value. SEE MORE Vietnam will cut its key policy rates from tomorrow, as the
government tries to support businesses and bolster a struggling economy.
Stocks rose.
The discount rate will be cut to 4.5 percent from 5 percent, and
the repurchase rate will be lowered to 5 percent from 5.5 percent, the
central bank’s monetary policy head Nguyen Thi Hong said at a briefing
in Hanoi today. The refinancing rate will be reduced to 6.5 percent from
7 percent. SEE MORE Vietnam’s central bank will weaken the dong only when “truly
needed” as it steps up efforts to create more favorable conditions for
foreign investors, including a plan to auction bad-debt assets of banks. SEE MORE Vietnam has surpassed Malaysia and India to become the third largest
natural rubber producer in the world, according to the Association of
Natural Rubber Producing Countries (ANRPC). SEE MORE US Gold futures for April delivery which settled lower at $1379 an
ounce has started climbing up to $1382. It hit a high of $1391.4 the
previous trading day and inching closer to the $1400 forecast by some
analysts. Continued tensions in the Ukraine region is providing support
for gold, silver and energy complex, analysts said. SEE MORE
