SJC Company will buy back dented gold bars, gold price jumps

Late on August 2, a source from Saigon Jewelry Company (SJC) said that starting next week, August 5, they will resume purchasing SJC single-letter gold bars and dented gold bars because SJC Company has been licensed to process these types of gold.

Previously, as reported by Nguoi Lao Dong Newspaper , for several weeks now, many customers who wanted to sell SJC gold bars with one letter or dented gold bars at SJC Company were refused to buy, because the State Bank had not yet granted a license to open a workshop to re-stamp these types of gold.

Normally, when SJC Company buys this type of gold from customers with a volume of about 1,000 taels, it will ask the State Bank to reprocess it. SJC single-letter gold bars are gold bars with a serial number consisting of one letter before the number, produced many years ago.

SJC Company will buy 1-letter gold bars and dented gold bars again from the beginning of next week.

Decree 24/2012/ND-CP on gold market management clearly stipulates that "The State has a monopoly on the production of gold bars, the export of raw gold, and the import of raw gold to produce gold bars". Therefore, since Decree 24, the State, through the State Bank, has a monopoly on the production, export and import of raw gold... no organization or individual is allowed to produce gold bars, including SJC Company.

Regarding the price of SJC gold bars, at the end of today, many gold companies such as SJC Company, PNJ, DOJJ... simultaneously increased the buying price of gold bars by 500,000 VND per tael, up to 78.3 million VND/tael. On the contrary, the selling price remained unchanged at 79.8 million VND/tael.

The price of 24K gold rings and jewelry of all kinds also increased by 100,000 VND to 76.35 million VND/tael for buying and 77.65 million VND/tael for selling.

Domestic gold prices increased following the increase in world prices. In the international market, the precious metal is heading towards a historic peak of 2,476 USD/ounce, up nearly 30 USD/ounce compared to this morning.

Source: https://nld.com.vn/cong-ty-sjc-se-thu-mua-vang-mieng-mop-meo-tro-lai-gia-vang-nhay-vot-196240802195648743.htm