Gold price in domestic market stands at over $3,140 per tael

The price of SJC-branded gold bars in the domestic market has risen again after being frozen at VND76.98 million ($3,024) per tael for around one month and a half.

On July 22, the four State-owned commercial banks, namely Agribank, BIDV, Vietcombank and Vietinbank, and the Saigon Jewelry and Germ Stone Co. (SJC) sold the gold bars to the public at VND80 million ($3,143) per tael.

The rate has been raised from July 18.

The gold prices in Vietnam are now around VND5.2 million ($204) a tael higher than the global one.

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