The Golden Wait: Unlocking Your SJC Gold After a 3-5 Day Quest

Vietcombank, one of Vietnam’s leading commercial joint-stock banks, has recently announced an adjustment in gold bullion delivery times for its customers. Due to changes in transportation, delivery, and gold bullion management procedures, from August 8, 2024, Vietcombank will deliver gold bullion to customers within two business days after the successful registration and completion of the gold purchase transaction at their designated gold trading locations.

VietinBank, another prominent Vietnamese bank, has also adjusted its gold bullion delivery schedule, effective August 8, 2024. Customers of VietinBank will now receive their SJC gold bullion within two business days from the date of successful registration and payment for their gold bullion purchases at the bank’s sales points.

With these new arrangements, customers will need three days, including the registration day, to complete their SJC gold purchases at these two banks. In the event of a Friday registration, customers may have to wait up to five days, considering that Saturday and Sunday are non-working days, to receive their gold.

Prior to this, starting June 3, the State Bank of Vietnam began selling gold directly to four state-owned commercial banks, including Agribank, BIDV, VietinBank, and Vietcombank, for them to resell to the public.

Additionally, since mid-June, banks have introduced an online SJC gold bullion purchase registration service on their websites. This allows customers to register to buy SJC gold bullion at their preferred location and receive a confirmed appointment, complete with details of the time and place for payment and gold collection, without the need to physically queue or obtain a transaction number.

After more than two months of implementation, the gap between SJC gold prices and world gold prices has narrowed significantly from the previous level of nearly VND 20 million.

This morning (August 8), the State Bank of Vietnam announced a selling price of SJC gold bars at VND 77.5 million per tael, a decrease of VND 500,000 per tael compared to the previous announcement.

At commercial banks and gold shops, SJC gold prices also dropped sharply by VND 500,000 per tael compared to the previous day. The buying price is currently at VND 76.5 million per tael, while the selling price is VND 78.5 million per tael.

The prices of plain gold rings did not witness significant fluctuations, with adjustments of only VND 50,000-100,000 per tael. The selling price of this type of gold remains above VND 77 million per tael.

Specifically, SJC Company is currently listing the price of gold rings at VND 75.9-77.4 million per tael. DOJI Group is offering prices at VND 76.05-77.25 million per tael. Bao Tin Minh Chau and Phu Nhuan Jewelry (PNJ) are listing prices at VND 76.03-77.23 million per tael and VND 76.0-77.29 million per tael, respectively.