SJC has imported four tons of gold and is to cut gold into bars for retail

The Saigon Jewelry Holding Company (SJC) has imported around four tons of gold, a deputy director of the company said on Sunday.
 
The gold is being currently kept the company’s bonded warehouse, and the company will complete next week the procedures needed to cut into bars, he said.

While companies and banks do not announce gold prices during the holidays, shops nationwide are selling the precious metal at around VND25.5 million per tael.

The SJC official warned people not to purchase gold at this time because gold prices onshore were still high compared to the global market by more than VND1 million per tael.

Local jewelry companies will post prices close to that of the world over the next few days, so the price will fall further, he said.

Earlier, the State Bank of Vietnam decided to support SJC with foreign currency to buy gold in order to bridge the gap in domestic and world prices, and stabilize the dong’s value against the dollar.