ACB gold bars return to the market after 13 years

Today, October 2, ACB became the first bank to announce the restart of its gold trading segment from October 10 and the relaunch of the ACB gold bar brand.

ACB will sell both ACB brand gold bars and SJC gold bars - Photo: THANH HIEP

After the Government issued Decree No. 232 amending and supplementing a number of articles of Decree No. 24 on the management of gold trading activities, many qualified banks and gold enterprises are rushing to complete procedures to import gold to produce gold bars when the Decree officially takes effect on October 10.

ACB is the first bank to announce the return of its previous gold bar brand to the market.

ACB resumes gold bar trading

Along with the relaunch of the gold bar brand, ACB also announced the terms and conditions for gold bar trading. Accordingly, this bank will start buying and selling gold bars at some branches in the near future.

Types of gold traded include ACB and SJC brand gold bars and other types of gold bars according to regulations and updated periodically.

With SJC gold bars, branches will only trade 1 tael. As for ACB brand gold bars, the bank trades all weights.

Payment method in VND, through an account at ACB. Payment and delivery of gold is made on the same day or within two working days.

According to the announcement from ACB, gold bars are products stamped into bars, with letters, numbers indicating weight, quality, and the code of the enterprise or commercial bank licensed by the State Bank to produce.

Gold bar buyers and sellers must transact at the listed price or agreed upon by ACB at each point in time. At the same time, individual customers must provide full information, identification documents, and legal documents. For customers who are organizations or units, they must present a gold bar trading license from the State Bank.

Customers have the right to request ACB to issue an invoice when purchasing gold, and must issue an invoice when selling gold bars to the bank. In addition, customers must fully comply with the legal regulations on gold trading as well as the bank's instructions and fee schedules.

ACB has the right to check the quality of gold bars provided by customers, collect arising fees such as packaging and processing fees, etc. and is obliged to issue gold sales invoices when customers purchase. The bank will also provide transaction information to competent authorities when requested and commits to comply with legal regulations in each period.

"The gold price list listed on the ACB One website and application is for reference only. In case of system failure, the applicable price is the counter price or the system price at the time of transaction. Customers are fully responsible for the risk of gold price fluctuations and damages arising from their buying and selling decisions," ACB emphasized.

SJC gold bar price remains high

At the end of October 2, the selling price of SJC gold bars at SJC Company was 138 million VND/tael, the buying price was 136 million VND/tael.

Other gold brands such as PNJ, Mi Hong… also raised the selling price of SJC gold bars accordingly. However, the difference between buying and selling prices at large gold shops is only 1 million VND/tael, half of the difference at SJC Company.

The selling price of 9999 gold rings at SJC Company also increased to 134.2 million VND/tael, buying price 131.5 million VND/tael.

Compared to the converted world gold price, the current price of SJC gold bars is 14.2 million VND/tael higher and the price of 9999 gold rings is 10.4 million VND/tael higher.

Before 2012, there were many domestic gold bar brands such as Phuong Hoang gold bars of PNJ Company, gold bars of Saigon Thuong Tin Bank Jewelry Company (SBJ), ACB brand gold bars of Asia Commercial Joint Stock Bank, AAA gold bars of Agribank...

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Source: https://tuoitre.vn/vang-mieng-acb-tro-lai-thi-truong-sau-13-nam-20251002225417876.htm