Exchanging with the press on June 4, 2024, Mr. Dao Xuan Tuan, Director General of the Foreign Exchange Management Department of the State Bank of Vietnam (SBV), shared that this was the second day when the four state-owned commercial banks and Saigon Jewelry Company Limited (SJC) sold the SJC-branded gold bullions directly to the people in accordance with the SBV’s new plan.
The objective of this plan is to narrow and control the gap between the selling price of the SJC-branded gold bullions and the international gold price at an appropriate level. This plan has initially received a lot of attention and positive feedbacks by the public.
The narrowing of the gap between the selling price of the SJC-branded gold bullions and the international gold price could lead to further reductions of the selling gold price by the state-owned commercial banks and the SJC in the coming time. Therefore, the people should be cautious when engaging in gold transactions in light of fluctuations in the domestic and international gold prices.
Le Hang