Once the State Bank tightens the management over the gold market by setting higher requirements on gold trading entities, a lot of private gold companies would leave the official market, but they would set up a new black market somewhere. With the strict requirements on gold trading companies (they must have the minimum chartered capital of over VND100 billion, have at least 2-year experience in gold... 

Last week, several banks reportedly refused to buy the national branded SJC gold bars in their previous design, preferring the new design launched several months ago. The development reflects the confusion in Vietnam’s gold market in the aftermath of the State Bank’s decision to turn SJC into a national gold brand under governmental Decree 24/2012/ND-CP which took effect from late May 2012. Vietnam... 

The owners of well-known gold brands, who have been prohibited to make bullion gold, have shifted to make 9999 jewelry gold as a reaction to the new policy which says the state holds the monopoly in making bullion gold. The Saigon Jewelry Company (SJC) has marketed ring gold bearing SJC brand. The Phu Nhuan Jewelry Company (PNJ), DOJI and many other private gold shops have also developed their own... 

Price of gold in Vietnam dropped VND200,000 a tael (1.2 ounces) over last weekend on January 16 as global price went down over concern of the eurozone sovereign-debt crisis. Sacombank Jewelry Company bought gold at VND43.15 million and sold at VND43.45 million as of 9:05am Vietnamese time. Saigon Jewelry Company, the biggest gold processor and trader in Vietnam, collected gold at VND43.2 million and... 

Price of gold in Vietnam dropped by VND200,000 a tael (1.2 ounces) over last weekend on January 9 as global price made a sharp correction on a stronger US dollar. Sacombank Jewelry Company bought gold at VND43 million and sold at VND43.3 million as of 9:10am Vietnamese time. Saigon Jewelry Company, the biggest gold processor and trader in Vietnam, collected gold at VND42.95 million and sold at VND43.25... 

Price of gold in Vietnam and global prices both declined slightly on December 12 as investors felt insecure about the European sovereign-debt crisis. Sacombank Jewelry Company bought gold at VND44.5 million and sold at VND44.75 million as of 10:45am Vietnamese time. Saigon Jewelry Company, the biggest gold processing and trading company in Vietnam, collected gold at VND44.45 million and sold at VND44.7... 

In the last few months, only SJC has been allowed to import material gold. Meanwhile, non-SJC goldsmith companies have just been told to stop making bullion gold. Non-SJC goldsmith companies have stopped making bullion gold as requested by the State Bank. Meanwhile, the new comers on the market, i.e. the gold brands which were “given birth” recently, anticipate big losses, because they have to... 

Price of gold in Vietnam recovered VND45 million a tael (1.2 ounces)  November 23 thanks to an increase of 1.3 per cent in global prices in the trading session in New York last night. Sacombank Jewelry Company bought gold at VND44.5 million and sold at VND44.9 million as of 7:55am Vietnamese time. Saigon Jewelry Company, the biggest gold processing and trading company in Vietnam, collected gold at... 

The price of gold in Vietnam dropped by VND100,000 a tael (1.2 ounces) over the previous day on November 17 as global price lost nearly $20 an ounce in the trading session last night in New York. Sacombank Jewelry Company bought gold at VND46.1 million and sold at VND46.3 million as of 1:15 pm Vietnamese time. Saigon Jewelry Company, the biggest gold processor and trader in Vietnam, collected gold... 

The price of gold in Vietnam jumped to VND46.5 million a tael (1.2 ounces), the highest level since September 23, on November 8 as global price advanced $42 an ounce in the trading session in New York on concerns over Italy’s sovereign-debt uncertainties. Sacombank Jewelry Company bought gold at VND46.2 million and sold at VND46.4 million as of 8:15 am Vietnamese time. Saigon Jewelry Company, the...