National jeweler tries to ease fears of fake gold

TN News

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Saigon Jewelry Company (SJC), whose bullion accounts for 90 percent of the local market, said Wednesday that people should not worry about fake gold products in Vietnam.

The company said it had tested all gold bars brought to it by concerned customers recently and that all bars had proved to be real gold.

The move came after increasing numbers of people asked the company to test the quality of their gold as news about the trading of fake gold has been spreading, said Nguyen Cong Tuong, deputy manager of SJC's sales department, without mentioning any figures.

He told VnExpress last week that only 80 taels (3.02 kilograms) of fake gold have been found in the country over the last 20 years, compared to more than 20 million taels that the company has produced over that period of time.

But he added it has been enough to lose some customers' confidence in SJC, which was chosen as the national brand by The State Bank of Vietnam in early July, after the government had taken over the country's gold bars production since May 25.

Experts have said that there is not much chance that fake gold will enter the domestic market as the import of the precious metal is strictly regulated,VnExpress reported.

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