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Saturday, June 22, 2024

SBV further lowers gold bar price

The Saigon Times

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HCMC – The State Bank of Vietnam (SBV) on June 4 sold gold bars to four authorized banks and Saigon Jewelry Company (SJC) at VND77.98 million per tael, down by VND1 million from the previous day.

The SBV said it would continue to implement the roadmap designed to narrow the price gap between domestic and world gold prices.

On June 3, the four banks and SJC retailed gold at VND79.98 million per tael, VND1 million per tael higher than the SBV’s selling price.

These four banks are not allowed to buy gold from the public while SJC as a gold trading firm can do it.

According to the recent SBV announcement, from 2:30 p.m. on June 3, the five entities started selling gold bars to individual customers.

Today, June 4, residents could buy gold from 9 a.m. at these authorized entities, except at Vietcombank, which started to retail gold at 1:30 p.m. today, as it needs more time to complete all procedures for receiving SJC-brand gold bars from the SBV, and transporting them to the bank’s vaults.

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