Vietnam stops issuing gold trading licenses

HANOI, Mar 12 (Commodity Online): In an attempt to 'tighten things up' Vietnam on Thursday stopped issuing licenses for gold bullion trading and production. Announcing the decision through its website, country's central bank, State Bank of Vietnam said it will eventually eliminate deposits in gold at banks, which currently total about VND112 trillion ($5.4 billion). Banks must control the use of gold and dollars in deposits and lending, and the government aims to abolish unofficial bullion trading eventually, the central bank said last week.