A strange phenomenon on the morning of October 10 was that the gold price at Asia Commercial Joint Stock Bank (ACB ) increased sharply in the selling direction, ACB brand gold bars increased from 2 million VND/tael to 145 million VND, while the buying price remained at 141 million VND. The difference between the buying and selling price of ACB gold bars increased to 4 million VND/tael instead of 2 million VND/tael before. However, ACB adjusted the price list of SJC brand gold bars with a downward adjustment trend from 142.5 million VND per tael to 141.4 million VND for selling; and down to 140.5 million VND for buying.
SJC gold bar price drops sharply after many days of increase
PHOTO: NGOC THANG
Meanwhile, the SJC gold bar brand at other gold trading companies continuously decreased by 1.1 million VND per tael. Saigon Jewelry Company - SJC bought at 139.4 million VND, sold at 141.4 million VND. Doji Group, Bao Tin Minh Chau Company... bought at 139.9 million VND, sold at 141.9 million VND...
Today the monopoly on gold bar production ends, what do experts say about gold prices?
The reason why ACB increased the price of ACB brand gold bars is that customers asked to buy gold more than usual. This bank previously announced the terms of gold bar transactions (including ACB, SJC gold bar brands...) making the market understand that ACB was allowed to launch gold bars from October 10. Immediately after that, ACB informed that the SJC gold bar brand had been produced before 2012. Currently, the bank is waiting for instructions on registering to produce gold bars.
From October 10, Decree 232 amending and supplementing Decree 24/2012 on gold market management officially took effect. Specifically, the gold bar monopoly policy was abolished, units were allowed to produce gold bars when meeting the prescribed conditions, the State Bank will grant licenses to import raw gold to banks, enterprises... Some banks and enterprises currently said they are waiting for the circular guiding Decree 232 to be issued to guide the above licensing procedures.
Before 2012 (when Decree 24 on gold market management was issued), in addition to the SJC gold bar brand, the market had other gold bar brands such as PNJ, Doji, Sacombank -SBJ, Bao Tin Minh Chau, ACB... After Decree 24 took effect, gold bar production and trading units converted to SJC gold bars since 2013.
Thanhnien.vn
Source: https://dantri.com.vn/the-thao/doi-tuyen-viet-nam-nhan-tin-vui-tu-fifa-sau-chien-thang-20251010134523118.htm
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