This is the State Bank’s second branch request in an official letter to the general directors/directors of enterprises and credit institutions permitted to trade in gold bars in Ho Chi Minh City.
Accordingly, the State Bank’s Branch of Region 2 requested that credit institutions and enterprises licensed to trade in gold bars (referred to as units) in Ho Chi Minh City fully comply with their responsibilities as stipulated in Decree 24/2012 on gold market management and related regulations.
Notably, at gold bar transaction locations, units should inform customers and the public that they are licensed gold bar transaction locations by the State Bank.
“Units must display signboards with clear information about their licensed gold bar trading locations and publicly display certified true copies of their gold bar trading licenses… depending on the unit’s suitable position,” said Mr. Nguyen Duc Lenh, Deputy Director of the State Bank’s Branch of Region 2, in the document.
Banks and companies must display signboards to identify gold buying and selling points…
In the past few days, management agencies in Ho Chi Minh City have consecutively issued documents related to the gold bar and jewelry market.
The State Bank’s Branch of Region 2 informed that people are only allowed to buy and sell SJC gold bars at credit institutions and enterprises licensed by the State Bank to trade in gold bars.
Enterprises trading in gold (art jewelry) that are not licensed to trade in gold bars are not allowed to buy and sell gold bars with individuals and organizations, which is against regulations and will be subject to penalties.
Regarding domestic gold prices, on May 19th afternoon, SJC gold bars were listed by enterprises at VND 116.8 million/tael for buying and VND 119.3 million/tael for selling, an increase of about VND 800,000/tael compared to the previous week.
Similarly, the prices of 99.99% gold rings and jewelry also increased by about VND 500,000/tael, reaching VND 111.5 million/tael for buying and VND 114.5 million/tael for selling.
The Golden Rush: A Shocking Drop in Gold Prices Leaves PNJ Empty-Handed
PNJ, a leading jewelry company, announced an unprecedented shortage of SJC gold bars and plain gold rings across its entire network. In a surprising turn of events, the price of SJC gold bars took a dramatic dip on April 19th, leaving customers with a rare opportunity to seize.
Gold Hoarders Stunned as Domestic Gold Prices Plummet Post-US Elections
The dramatic $100 per ounce drop in the global gold price triggered a sharp decline in both SJC gold bars and gold rings in Vietnam.
Gold Bar Buying Service: SJC Gold Bars at an Unbeatable Price of 79.5 Million VND per Tael
As of today, larger enterprises are purchasing gold bullion at a fixed rate of 78.05 million VND per tael, whereas mid-range gold retailers are offering to buy gold at a rate that is 1 million VND higher per tael.
Unlocking Golden Opportunities: Vietcombank Launches Gold Bar Sales via App
Vietcombank (HOSE: VCB) is announcing a shift in its gold purchasing services. From August 27, 2024, customers will no longer be able to schedule appointments for SJC gold bar purchases on the bank’s website or make over-the-counter payments for the same. The bank is transitioning to an app-based model for a more streamlined and convenient user experience.
Unlocking Golden Opportunities: Purchase SJC Gold Bars with Ease through the Bank App
Booking and payment timings for gold purchases are between 10 am and 4 pm, Monday to Friday.
