On June 5, the selling price of gold bars continued to decrease by 1 million VND/tael.

This morning, June 5, the Governor of the State Bank of Vietnam approved the direct selling price of gold bars on June 5 to be 76,980 VND/tael.

Illustration - Photo: ST

Thus, the selling price of gold bars on June 5 decreased by 1 million VND/tael compared to the session on June 4 and decreased by 2 million VND/tael compared to June 3 - the first day of direct gold sales to 4 commercial banks and Saigon Jewelry Company Limited (SJC).

The price of SJC gold bars has continuously decreased after the State Bank directly sold gold in recent days, 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 gold intervention sales.

The goal of the State Bank selling gold directly to the above-mentioned units is to narrow and control the difference between the domestic SJC gold bar selling price and the world gold price at an appropriate level. This plan has initially received attention and positive reviews from public opinion.

According to experts, the narrowing of the gap between the domestic SJC gold bar selling price and the world gold price will lead to the gold selling price of state-owned commercial banks and SJC possibly decreasing in the near future. Therefore, people need to be very careful when buying gold in the context of the current volatile world gold price.

BT.

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