Long queues of gold buyers were no longer seen in front of designated sites of four State-owned commercial banks on June 17 morning.

Vietcombank has launched an online service for customers to register to purchase SJC gold bars directly on its website – and gold will only be sold to those who register online.

The narrowing of the gap between domestic and global gold prices may further pull down the selling price of SJC-branded gold bullion of state-owned commercial banks and Saigon Jewelry Company (SJC) in the near future, Dao Xuan Tuan, Director General of the State Bank of Vietnam (SBV)'s Foreign Exchange Management Department, has said.

SJC-branded gold bullion is sold at VND77.98 million (US$3,069) per tael on June 4 as approved by the Governor of the State Bank of Vietnam (SBV).

VOV.VN - The State Bank of Vietnam (SBV) on June 3 sold SJC branded gold bars to four State commercial banks and a gold and gemstones company at a stable price in an effort to narrow the disparity between domestic and global gold bar prices.

The State Bank of Vietnam (SBV) has halted its gold bullion auctions and will introduce a new strategy to stabilise gold prices as early as June 3.

VOV.VN - Eleven bidders bought a total of 12,300 taels of SJC-branded gold bullion that the State Bank of Vietnam (SBV) had put on sale at an auction held on May 16.

The State Bank of Vietnam (SBV) said that it has directed its branches in provinces and cities to closely monitor the developments of the local gold market, and at gold trading locations, and report to the central bank any case where people queue to buy gold.

VOV.VN - The government has requested an immediate inspection of gold bar trading in an attempt to stabilize the domestic gold market that has grabbed the headlines for the past few weeks.

VOV.VN - The price of gold bars rose sharply in Vietnam on May 10 morning, hitting a new all-time high of VND91.80 million per tael without signs of stopping in the near future.