Gold trading at banks has cooled down.

In the second week, the State Bank officially sold gold bars to 4 state-owned commercial banks and Saigon Jewelry Company - SJC with the goal of stabilizing the gold market. According to records on the afternoon of June 10, gold trading was quiet at some banks.

A representative of the Joint Stock Commercial Bank for Foreign Trade of Vietnam ( Vietcombank ) Tran Hung Dao branch said: People came to buy gold early in the morning and the bank issued numbers right from the beginning of the morning, so the afternoon was no longer as crowded as before. The number of numbers issued is also limited to the branch's ability to meet during the working day.

At the Joint Stock Commercial Bank for Investment and Development ( BIDV ) Tho Nhuom branch, a bank branch representative said that BIDV will maximally meet customers' gold buying needs.

In case the amount of gold in BIDV's warehouses is not enough to meet the demand at the time customers want to buy, the gold sale will continue when BIDV buys gold bars from the State Bank in the next buying sessions.

At 4:00 p.m. on June 10, the price of SJC gold bars remained stable with a selling price of VND 76.98 million/tael. DOJI Gold and Gemstone Group listed the price of SJC gold at VND 74.98 - 76.98 million/tael (buy - sell), keeping the listed price for buying and selling unchanged compared to yesterday's closing price.

Saigon Jewelry Company (SJC) listed the price of SJC gold at 74.98 - 76.98 million VND/tael (buy - sell), keeping the listed price for buying and selling unchanged compared to yesterday's closing price.

Today's SJC gold bar price is listed at 4 banks: Vietnam Joint Stock Commercial Bank for Investment and Development (BIDV), Vietnam Bank for Agriculture and Rural Development (Agribank), Vietnam Joint Stock Commercial Bank for Foreign Trade (Vietcombank) and Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) is 76.98 million VND/tael.

People buy gold bars at Saigon Jewelry Company (SJC) on Nguyen Thi Minh Khai Street (District 3, Ho Chi Minh City). Photo: Thanh Vu/VNA

Earlier this morning, the Governor of the State Bank of Vietnam approved the direct selling price of gold bars at VND75.98 million/tael. Thus, today's selling price of gold bars is the same as the previous session and is VND3 million/tael lower than the first day (June 3) of selling gold directly to 4 commercial banks and Saigon Jewelry Company Limited (SJC).

According to State Bank Governor Nguyen Thi Hong, in the context of the fluctuating world economy, gold is also an international story, not just Vietnam. Implementing the Government's direction, the State Bank has had many solutions such as inheriting the gold auction solution (implemented in 2013); however, the difference in the selling price of SJC gold bars with the world price has not decreased as expected.

This period has many differences in 2013. The State Bank implemented a new intervention measure, from June 3, the State Bank sold gold directly through 4 state-owned commercial banks and the Saigon Jewelry Company (SJC) so that these units could sell gold to the people. After a week of implementation, the initial gap between the selling price of SJC gold bars and the world gold price has been narrowed.

The continuous decrease in the price of SJC gold bars after the State Bank directly sold gold these days has been assessed by analysts as bringing the difference between the domestic gold price and the converted international gold price to a reasonable level, consistent with the State Bank's purpose of selling gold intervention.

According to baotintuc.vn

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