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Saturday, June 22, 2024

SJC buys gold from SBV for retail

By Truc Dao

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HCMC – Alongside the four state-run commercial banks authorized to sell gold to the public, Saigon Jewelry Company Limited (SJC) is now entitled to buy gold from the State Bank of Vietnam (SBV) to retail it individual customers.

This information was announced by the SBV on June 2, before four state-run commercial banks officially begin selling SJC gold bars directly to the public at 20 stores nationwide, starting today, June 3.

This is the fifth entity to participate in buying and selling gold in accordance with the SBV’s plan, contributing to the Government’s directive to bring domestic gold prices closer to global gold prices.

It is noted that state-run commercial banks only sell SJC gold bars to individual customers and do not buy the metal from customers. Meanwhile, SJC handles all transactions of buying and selling SJC gold bars.

The sale of gold by state-run commercial banks and SJC aims to ensure the implementation of the gold market stabilization goal in alignment with the direction of the Government and the SBV, not for profit purposes.

Currently, the websites of the four state-run commercial banks and SJC have announced the locations and times for selling gold bars to individual customers, who reside mainly in Hanoi and HCMC.

Meanwhile, SJC will sell gold bars in Hanoi, HCMC, Haiphong, Halong-Quang Ninh, Nha Trang, Hue, Quang Ngai, Bien Hoa (Dong Nai), Can Tho, Bac Lieu, and Ca Mau.

SJC is a state-owned gold trading enterprise with over 35 years of experience in the gold industry. SJC has a distribution network consisting of more than 200 stores and 43 official agencies, including 36 stores authorized to trade SJC gold bars.

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