Banks and companies must hang signs to identify the points of purchase and sale of gold bars.

This is the next request of the State Bank, Region 2 Branch, in an official dispatch sent to the general director/director of enterprises and credit institutions licensed to conduct gold bar trading in Ho Chi Minh City.

Accordingly, the State Bank of Vietnam, Region 2 Branch, requires credit institutions and enterprises licensed to trade in gold bars (referred to as units) in Ho Chi Minh City to fully comply with their responsibilities as prescribed in Decree 24/2012 on gold market management and related regulations.

Notably, at locations where gold bars are bought and sold, it is recommended that the implementing unit inform customers and people that this is a location where gold bars are bought and sold licensed by the State Bank.

"The implementing units must hang signs clearly stating the information of the licensed locations for buying and selling gold bars and publicly post a certified copy of the business license for buying and selling gold bars issued to the unit... depending on the appropriate location of the unit. Ensure that people can recognize the legal locations for buying and selling gold bars to distinguish them from other stores and businesses trading in gold jewelry and fine art" - Mr. Nguyen Duc Lenh, Deputy Director of the State Bank of Vietnam, Region 2 Branch, stated in the official dispatch.

Banks and companies must hang signs identifying the places where they buy and sell gold bars...

In the past few days, the management agency in Ho Chi Minh City has continuously issued documents related to the gold bar and jewelry market.

State Bank Branch Region 2 informed that people are only allowed to buy and sell SJC gold bars at credit institutions and enterprises licensed by the State Bank to buy and sell gold bars.

Gold trading enterprises (gold jewelry and fine art) that are not licensed to trade in gold bars and buy and sell gold bars with individuals and organizations are in violation of regulations and will be punished.

Regarding domestic gold prices, on the afternoon of May 19, SJC gold bar prices were listed by businesses at VND116.8 million/tael for buying and VND119.3 million/tael for selling, an increase of about VND800,000/tael compared to the end of last week.

Similarly, the price of 99.99% gold rings and jewelry gold also increased by about VND500,000/tael, to VND111.5 million/tael for buying and VND114.5 million/tael for selling.

Source: https://nld.com.vn/ngan-hang-cong-ty-phai-treo-bang-hieu-de-nhan-biet-diem-mua-ban-vang-mieng-196250519170827877.htm