Saigon Jewelry Company - SJC only adjusted the price of SJC gold bars a few times in the morning, increasing by 500,000 VND/tael and then kept it the same throughout the day on January 3. The buying price of SJC gold bars of this unit was 72.5 million VND, selling price was 75.5 million VND. Eximbank changed the price of SJC gold bars 4 times in less than 2 hours of the first day and then kept the price unchanged, buying price at 72.5 million VND, selling price at 75.5 million VND. Doji Group increased the gold price by 500,000 VND/tael, buying price to 72.4 million VND, selling price at 75.5 million VND. Bao Tin Minh Chau Company bought at 72.6 million VND, selling price at 75 million VND.
The price of SJC gold bars is about 15 million VND/tael higher than the world price . Compared to the beginning of the day, the world gold price decreased by 5 USD/ounce, down to 2,055 USD/ounce.
SJC gold bar price "unchanged" on January 3
Gold fluctuation 3.1: Gold buyers immediately lost 3 million/tael when they just 'paid'
The gold market almost "held its breath" after the information announced by the State Bank in the meeting on January 3. Mr. Dao Minh Tu - Deputy Governor of the State Bank said: "The State does not encourage gold trading but also cannot accept the price of gold bars being nearly 20 million VND/tael higher than the world price as in the past. In January, the State Bank will evaluate and review Decree 24/2012 on Gold Market Management. The ultimate goal is to manage the gold market without affecting the macro economy".
Although the information released is not clear how the operator will intervene in the gold market, the gold price has become stagnant. Gold trading units said that there are almost no transactions in the market. Occasionally, a few customers come in to buy 1-2 taels. The market's purchasing power suddenly dropped, and the units did not ask about buying or selling anything. The market is waiting for fundamental intervention measures from the State Bank.
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