.jpg "Giá vàng miếng SJC giảm sâu, thị trường Hải Dương không có giao dịch")
.jpg "Livestock output increased by 31.6%")
.jpg "Each tael of gold reversed and decreased by more than 3 million VND.")
.jpg "Kim Thanh reclaims more than 234 hectares of land to build an industrial park")
.jpg "Binh Giang's first quarter budget revenue reached nearly half of the province's annual target.")
.jpg "Early spring tea")
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On the morning of June 3, before the State Bank announced the price of SJC gold sold to commercial banks, the price of SJC gold dropped very quickly.
Specifically, as of 9:00 a.m., Saigon Jewelry Company listed the price of SJC gold at 80 - 82 million VND/tael (buy - sell), down 1 million VND/tael in both buying and selling compared to yesterday.
Doji Gold and Gemstone Group listed the price of SJC gold at 79.95 - 82.05 million VND/tael (buy - sell), down 1 million VND/tael for buying and down 700,000 VND/tael for selling compared to yesterday.
According to Dr. Truong Van Phuoc, the plan of the State Bank selling gold directly to 4 state-owned commercial banks is a suitable plan in the current period. The purpose of selling gold intervention is to narrow the gap between domestic gold price and converted international gold price.
But in the past, with the bidding method, it proved that this gap did not narrow much. Because intervention is to lower the price, and bidding is to choose the highest price to sell to the bidders with a starting price close to the market price, so how can it be successful?
“Now the State Bank sells to 4 state-owned commercial banks so that these banks can sell to the market, I think it will be successful, meaning the price gap between domestic and foreign countries will quickly narrow,” said Dr. Truong Van Phuoc.
According to expert Truong Vi Tuan of giavang.net, the market is still "looking forward" to the amendment of Decree No. 24/2012/ND-CP dated April 3, 2012 on the management of gold trading activities.
According to Decree No. 24/2012/ND-CP currently in effect, Saigon Jewelry Company (SJC) is not allowed to import or stamp gold bars. The stamping molds are assigned to the State Bank for management and no more gold bars have been issued in the past. Therefore, the supply of gold bars is scarce and the price difference between domestic and international prices is always high, over 15 million VND/tael.
In case the monopoly on gold bars is removed, other businesses such as PNJ and DOJI are allowed to produce gold bars, which will cause the price of gold bars to be pulled closer to the price of gold rings and jewelry. It can be said that only when the monopoly policy on gold bars changes will it temporarily affect the price of gold bars.
.jpg "Hai Duong's agricultural, forestry and fishery value increased by 7.51% in the first quarter.")
