HANOI, June 4 (Xinhua) -- The price of gold bullion sold to four state-owned lenders and Saigon Jewelery Company Limited (SJC) has been set at 77.98 million Vietnamese dong (3,069 U.S. dollars) per tael on Tuesday, said the State Bank of Vietnam.
The gold bar price fell 1 million dong (39.3 dollars) from the previous day, local media reported.
Earlier, the central bank said the four banks and the SJC are solely authorized to purchase SJC gold bars from the central bank and sell to the public. This strategic move aims to promote market stability and ensure a balanced gold market, according to Vietnam News Agency.
On Tuesday morning, SJC gold prices are quoted at 77.98 million dong (3,068.26 dollars) per tael for sellers and 79.98 million dong (3,146.96 dollars) for buyers, which was a three-month low.
A tael equals 37.5 grams or 1.2 ounces. ■
