As of August 2, a source from the Saigon Jewelry Company (SJC) revealed that starting next week, on August 5, they will resume buying back SJC gold bars with one-letter serial numbers and deformed gold bars as the company has been authorized to reprocess these gold items.
Previously, as reported by Nguoi Lao Dong, for the past few weeks, customers attempting to sell SJC gold bars with one-letter serial numbers and deformed gold bars at SJC branches had been refused due to the lack of permission from the State Bank of Vietnam to open a workshop for re-stamping these gold items.
Typically, when SJC purchases these types of gold bars from customers in quantities of approximately 1,000 taels, they would request permission from the State Bank to reprocess them. SJC gold bars with one-letter serial numbers are those with a serial number consisting of a single letter followed by a series of numbers and were produced several years ago.
SJC will resume buying back one-letter gold bars and deformed gold bars starting next week
Decree 24/2012/NĐ-CP on gold market management clearly states that “The State holds the monopoly on gold bar production, gold material exports, and gold material imports for gold bar production.” Therefore, since Decree 24, the State, through the State Bank, has had the exclusive right to produce and import-export gold materials… No organization or individual is allowed to produce gold bars, including SJC.
Regarding SJC gold bar prices, several gold businesses, including SJC, PNJ, and DOJJ, simultaneously increased their buying price by VND 500,000 per tael to VND 78.3 million/tael. Meanwhile, the selling price remained unchanged at VND 79.8 million/tael.
The prices of 24K gold rings and jewelry also increased by VND 100,000 to VND 76.35 million/tael for buying and VND 77.65 million/tael for selling.
Domestic gold prices rose following the upward trend in global gold prices. In the international market, the precious metal is approaching its historical peak, reaching 2,476 USD/ounce, an increase of nearly 30 USD/ounce compared to this morning.
