Central bank keeps gold prices unchanged on June 7

The price of the SJC-branded gold bars sold by the State Bank of Vietnam (SBV) to four State-owned commercial banks and the Saigon Jewelry and Germ Stone Co. (SJC) for sale to the public on June 7 remained unchanged as compared with that from the previous day.

The gold bars were offered by the central bank at VND75.98 million ($2,985) per tael.

Accordingly, the price of the gold bars sold to the public by the four banks, namely Agribank, BIDV, VietinBank and Vietcombank, and the SJC remained the same rate of the previous day at VND76.98 million ($3.024) per tael.

However, the gap between the domestic and global gold prices continued to get narrower as a result of the increase in the world gold prices.

The gold prices in Vietnam are around VND2.7 million ($106) a tael higher than the global price, down from the gap of VND3.98 million ($156.3) recorded on June 6.

The four banks and the SJC are solely permitted to purchase SJC gold bars from the central bank to sell to the public as part of measures to stabilize the market. They started to sell gold to the public on June 3.