Tuesday, 21st February 2006 (3829 views)

A major jewellery company in Vietnam is to begin offering 1kg gold bars from February 22nd, according to VietNamNet.

The Saigon Jewellery Company will introduce the bars in the hope of facilitating local transactions and deposits.

It will be the first time that the Ho Chi Minh City-based company has offered the gold bars, which are 51mm wide, 115mm long and 9.5mm thick. They are equivalent to 26.6 tael and will be registered with the State Bank of Vietnam.

The launch of the gold bars is likely to create a lot of interest in Vietnam, where the need for buying gold has increased.

A spokesman said that "the launch is in tune with the global trend and promises a thriving local market", according to the Nhan Dan newspaper.

The official went on to say that the price of the bars would be quoted on a daily basis.

Saigon Jewellery Company manufactures gold rings and jewellery. The company specialises in wholesale and retail of gold pieces, as well as diamonds and gemstones.

 

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