Gold market maintains stability

June 3 is the time when four state-owned commercial banks, including Agribank, BIDV, Vietcombank, Vietinbank and Saigon Jewelry Company (SJC), participated in buying gold from the State Bank of Vietnam (SBV) for direct sale to the people.

The SBV's intervention keeps gold prices stable in the market. In photo: People shop for gold jewelry at a gold store in the Thu Dau Mot market area

Accordingly, at noon on June 3, the State Bank announced that the gold selling price was stable at 78.9 million VND/tael. Based on the purchase price of gold bars from the State Bank, commercial banks and SJC Company will determine and announce and publish the selling price of gold bars on their website and at gold selling locations. In Binh Duong market, the buying price of SJC gold of gold trading enterprises is commonly around 79 million VND/tael, selling for nearly 81 million VND/tael. Surveys at banks, businesses and small gold shops in the Binh Duong market show that the gold buying and selling situation is still stable, with no unusual developments.

Reported by Thanh Hong - Translated by Ngoc Huynh