Hanoi to inspect gold trading at 116 businesses

Hanoi plans to inspect 116 businesses in the fields of manufacturing and trading gold and silver jewelry and gemstones, according to the city’s Market Watch Department.

The inspection will focus on the listing of gold prices and gold origins. Violators will be strictly punished in line with regulations.

On August 26, the prices of SJC-branded gold bars in the domestic market were kept unchanged compared to the past five days.

The four State-owned commercial banks, namely Agribank, BIDV, Vietcombank and Vietinbank, and the Saigon Jewelry and Germ Stone Co. (SJC) listed the selling prices of the gold bars at VND81 million ($3.230) per tael.

In the global market, the gold price was listed at $2,523.9 per ounce.

At this level, gold prices in Vietnam are around VND5 million ($199) a tael higher than global price.