Specifically, at 2:40 p.m., Saigon Jewelry Company SJC, DOJI Group listed the price of gold bars at 115.8 - 117.8 million VND/tael (buy - sell); kept the listed price for buying compared to this morning (9:25 a.m.); decreased 200,000 VND/tael for selling compared to the beginning of this morning's session.
Bao Tin Minh Chau Company listed the price of gold bars and gold rings at 113.3 - 116.3 million VND/tael; keeping the listed price for both buying and selling unchanged compared to this morning.
Saigon Jewelry Company SJC listed the price of gold rings at 111.2 - 113.7 million VND/tael (buy - sell), keeping the listed price in both buying and selling directions unchanged compared to this morning.
DOJI Group listed the price of gold rings at 111.5 - 113.7 million VND/tael (buy - sell), keeping the listed price unchanged in both buying and selling directions compared to this morning.
The State Bank has just posted a notice of the State Bank Inspectorate on the conclusion of the inspection of compliance with policies and laws in gold trading activities at 6 credit institutions and gold trading enterprises.
The units subject to inspection include Tien Phong Commercial Joint Stock Bank ( TPBank ), DOJI Gold and Gemstone Group Joint Stock Company, Bao Tin Minh Chau Company Limited, Vietnam Export Import Commercial Joint Stock Bank (Eximbank), Phu Nhuan Jewelry Joint Stock Company (PNJ) and Saigon Jewelry Company Limited (SJC).
The inspection results showed that these units basically complied with legal regulations in gold trading activities, including buying and selling gold bars under the license of the State Bank, implementing the regime of reporting gold buying and selling data, posting gold buying and selling prices, implementing regulations on anti-money laundering, making documents, invoices and declaring basic taxes according to the provisions of law... However, besides the achievements, the inspection process also discovered many serious violations and shortcomings at the units.
The State Bank Inspectorate also requested relevant enterprises and banks to strictly comply with legal regulations, especially in the field of tax. Violations and shortcomings discovered during the inspection process must be promptly remedied.
The State Bank has sent a document transferring all information related to signs of violations of invoices, accounting documents and taxes at the above enterprises to the Ministry of Public Security to serve the verification, investigation and handling according to the provisions of criminal law.
In the world market, gold prices increased in the morning trading session on June 2 after Russia-Ukraine tensions escalated.
At 9:04 a.m. (Vietnam time), spot gold prices increased by 0.5% to $3,305.85/ounce. US gold futures prices also increased by 0.4% to $3,329.80/ounce.
Tim Waterer, senior market analyst at KCM Trade, said that gold prices rose at the start of the week, not surprising given the rising trade and geopolitical concerns. He added that risk assets were weak and the weakening US dollar also supported gold prices.
On May 30, President Trump announced that he would increase tariffs on steel and aluminum imports from 25% to 50%, prompting the European Commission to warn that Europe would be ready to retaliate. The US dollar index fell 0.2%, making gold cheaper for foreign buyers.
The market is waiting for a speech from US Federal Reserve Chairman Jerome Powell and comments from several officials this week to predict the Fed's monetary policy outlook in the coming time.
Fed Governor Christopher Waller said a rate cut is still possible later this year, even as Mr Trump's tariff policies could put short-term inflationary pressure on the central bank.
Gold, considered a safe-haven asset during times of geopolitical and economic uncertainty, tends to appreciate in low-interest-rate environments.
Source: https://baoninhbinh.org.vn/gia-vang-mieng-chieu-2-6-tiep-da-giam-007945.htm
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