All "stabilized" gold bar sales points stop accepting direct customers

On the morning of June 20, SJC dispersed customers gathered in front of its headquarters on Nguyen Thi Minh Khai (District 3, Ho Chi Minh City), and posted a notice about registering to buy gold online via the website.

On June 20, Saigon Jewelry Company (SJC) - the last unit in the group participating in selling "stabilized" gold - stopped accepting customers to register to buy directly at the branch, switching to distributing numbers online on the website.

Accordingly, customers need to access SJC's website, choose to register to buy gold bars and enter full personal information (full name, citizen ID, address) and choose the location and quantity they want to buy.

Currently, SJC sells a maximum of 5 taels per person. Customers come to the transaction location according to the confirmed address and appointment time to make the transaction. If the appointment time is exceeded, SJC will cancel the appointment to serve other customers.

In the past ten days, four state-owned banks, Vietcombank, Agribank, BIDV and VietinBank, have also switched to online distribution of gold numbers for gold buyers. In addition, after initially announcing unlimited sales to individuals, these four banks have recently had to limit the maximum purchase amount to 1 tael per person.

The move of these units to online form aims to reduce the situation of gathering and waiting in long queues in front of transaction offices and branches. In addition to people who want to buy gold bars directly, according to the authorities, the market also recorded the phenomenon of lining up to "buy gold on behalf of others". Some people lined up to buy "cheap" gold from the State Bank, then resold it to others to profit from the difference.

Recently, the State Bank of Vietnam, Ho Chi Minh City branch, issued a notice reminding people that buying and selling gold bars at unlicensed businesses is against the law and will be punished. Decree 88/2019 stipulates warnings for acts of buying and selling gold with unlicensed units, and fines of 10 to 20 million VND for repeated violations.

People lined up in front of SJC Nguyen Thi Minh Khai (District 3, Ho Chi Minh City) early morning of June 20.

Since early June, the State Bank has increased the supply of gold bars to the market by selling gold directly to four state-owned banks and SJC. Accordingly, the regulator sets the selling price of gold bars to the market by setting a margin of 1 million VND compared to the price these units buy from the State Bank.

The price of SJC gold bars has remained stable at nearly 77 million VND per tael throughout the past week, currently only 2 million VND higher than domestic gold rings and 5 million VND higher than the world price.

Currently, the country has 22 banks and 16 businesses licensed to trade in gold bars such as SJC, DOJI, PNJ, Mi Hong, Bao Tin Minh Chau, Phu Quy Gold, Kim Ngoc Phu Gold, Ngoc Hai Gold and Gemstones...

However, according to the reporter's records, businesses licensed to trade in gold bars, not subject to "stabilized" gold sales such as DOJI, PNJ, Mi Hong... are currently only buying and stopping selling gold bars to the market with the reason of running out of stock.

TB (according to VnExpress)

Source: https://baohaiduong.vn/toan-bo-diem-ban-vang-mieng-binh-on-dung-nhan-khach-truc-tiep-385110.html