Banks are about to sell gold via app

In addition to existing features, Vietcombank will soon sell gold via app - Screenshot

Sell ​​gold on app , cashless payment

The above information was given at a meeting between the State Bank and gold bar trading organizations, which was recently held.

Mr. Nguyen Thanh Tung, General Director of Vietcombank, said that Vietcombank will continue to implement the direction of the State Bank and optimize the process of supplying and selling gold to people.

Including selling gold on the app, cashless payments in a transparent and convenient direction.

This is an important change that makes selling gold online more convenient. Currently, four banks and SJC Company have switched to selling gold online on the bank's website. This is to avoid the situation of queuing to buy gold that has been going on for the past few weeks.

However, the number of customers registering was very large. A bank leader said that at one point the system recorded 140,000 orders simultaneously. Meanwhile, the amount of gold sold each day is limited, so it was sold out within a few minutes of opening.

Intervention in the gold market has been "resolute and to the point"

At the meeting, banks and gold companies all assessed that the drastic intervention measures of the State Bank have brought about effectiveness, thereby helping to narrow the gap between domestic and international gold prices in accordance with the direction of the Government, the Prime Minister and the opinions of competent agencies.

After three weeks of selling gold in the new form, the gold price difference has narrowed significantly, to only 4-5 million VND/tael. Previously, the difference was up to nearly 20 million VND/tael.

Banks and gold companies also admit that if the State Bank does not intervene in the gold market, allowing high prices will lead to negative impacts such as smuggling, tax evasion, imbalance in the balance of payments, affecting exchange rate management and the macro economy.

"Many times before, when the gold price fluctuated, the State Bank sent out messages that it was ready to intervene. But this time, we see that these are very clear and very drastic measures.

We have been following this issue and have complete confidence and see that the measures taken by the State Bank are very drastic and go right to the point," said Mr. Do Minh Phu, Chairman of the Founding Council of DOJI Group, at the meeting.

The State Bank said it will eliminate gold speculation, creating favorable conditions for people with real needs - Photo: PHUONG QUYEN

Will eliminate gold speculation, creating convenience for people with real needs

At the meeting, in response to the opinion that recently there have been signs of hiring people to queue, manipulating and monopolizing the market.

The units participating in selling SJC gold bars all affirmed that they will continue to improve processes and technology to facilitate people who want to buy real gold, eliminating speculation. However, it is also necessary to communicate so that people are clearly aware, avoiding psychological effects when buying gold.

Experts also noted that the world gold market is fluctuating unpredictably, people need to be cautious and avoid psychological effects when buying gold to limit risks.

According to Decree 24, the State Bank is responsible for implementing state management of the gold market.

The management of the gold market must be based on domestic and international developments, monetary policy management goals, and macroeconomic developments to decide the appropriate timing, level, and dosage of gold market intervention.

The Governor requested units to maximally absorb valid comments from gold trading enterprises and consulting banks to propose amendments to Decree 24.

"The State Bank has enough determination, resources, and tools to implement appropriate short-term and long-term solutions for the gold market to develop stably according to the principle of a market under State management," the State Bank leader affirmed.

For details on gold price movements, please refer HERE.

Source: https://tuoitre.vn/cai-tien-quy-trinh-ban-vang-qua-app-loai-bo-dan-dau-co-20240622182921768.htm