Cheap Gold on Sale in Vietnam
Deputy head of its business office, Nguyen Cong Cuong, said the company sold 9,000 taels (37.5g) at VND100,000-200,000 lower than market prices, and bought almost nothing.
Because of the lower gold prices, people queued up at its outlets to buy, increasing sales on Tuesday to several times the normal figure, he said.
Many private gold shops too bought from SJC, he said.
Nguyen Thanh Long, general director of SJC, said the company had enough stock to influence the market.
Also on Tuesday the company wrapped up procedures to import 500 kilogrammes and the gold would arrive in Viet Nam within 48 hours, he added.
The Phu Nhuan Jewellery Company (PNJ) on Tuesday sold around 2,500 taels and bought 700, general director Nguyen Thi Cuc said.