Domestic gold prices kept unchanged for 20 consecutive days

The prices of SJC-branded gold bars sold to the public by the four State-owned commercial banks and the Saigon Jewelry and Germ Stone Co. (SJC) have remained the same rate for 20 days in a row.

The four banks, namely Agribank, BIDV, Vietcombank and Vietinbank, and the SJC listed the selling prices of the gold bars at VND76.98 million ($3.024) per tael on June 26.

The rate has been kept unchanged since June 6 following the stable selling prices of the gold bars sold to the four banks and the SJC by the State Bank of Vietnam (SBV), at VND75.98 million ($2,985) per tael.   

Gold prices in Vietnam are around VND4.7 million ($184) a tael higher than global price, much lower than a gap of VND20 million ($785) at a peak recorded at the beginning of June.

The four banks and the SJC have been solely permitted to directly purchase SJC gold bars from the central bank to sell to the public from June 3 as part of measures to stabilize the gold market.