VOV.VN - After standing still for 45 consecutive days, the opening session on the morning of July 18 saw Saigon Jewelry Company (SJC) gold bar prices rebound, reaching VND80 million per tael.

The price of SJC-branded gold bars in the domestic market has remained stable despite the rising global gold price recorded over the past couple of weeks.

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 - Under the State Bank of Vietnam (SBV)’s new move to stabilize the gold market and narrow the gold price gap, people who wish to purchase SJC gold can go to any of the four major state-owned commercial banks to carry out transactions to buy gold, according to industry insiders.

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 successfully bought a total of 13,400 taels of SJC-branded gold bullion that the State Bank of Vietnam (SBV) had put up to auction on May 23.

Deputy Prime Minister Le Minh Khai requested relevant ministries and sectors assign officials to join a delegation for inspecting the gold market and gold trading activities, during a meeting discussing gold market management measures on May 14 in Hanoi.

The State Bank of Vietnam (SBV) has announced the fifth auction of SJC gold bullions on May 14, with bidding condition changes compared to the latest session.

Permanent Vice Chairman of the National Assembly (NA) Tran Thanh Man on May 13 voiced concern over skyrocketing gold prices, asking the Government to quickly review market management measures to narrow the wide gap between domestic and global prices.