Vietnam: What is SJC gold? Is SJC gold 9999 gold bullion?

Hello, Lawnet would like to answer as follows:

Is SJC gold bullion 9999 gold?

To answer this question, based on Article 2 of Decision 1623/QD-NHNN dated 2012, which provides clear regulations on the organization of gold bullion production:

- The State bank decides gold bar production on the basis of target on operation of the monetary policy and gold bar supply and demand in the market.

- The State bank assigns the SaiGon Jewelery one-member limited liability company – SJC (hereinafter referred to as SJC) to process gold bars under provisions on this Decision.

- The State bank shall decide the limited level, production time, and gold material source used as raw materials for the gold bar production organization.

- The State bank shall organize the production of gold bars with 99.99% content, engraved letters, and figures indicating weight, quality, and the symbol code of SJC (hereinafter referred to as SJC gold bars). The State bank decides the weight of the produced SLC gold bars in each period.

- The State bank approves the cost of SJC gold bar processing each period on the basis of processing expenses, expected profit, and applied taxs.

Therefore, SJC gold is essentially 9999 pure gold produced by Saigon Jewelry Company Limited. The distinctive feature of this type of gold is that it is cast into rectangular pieces, with a dragon image and four number 9s representing 99.99% pure gold printed on the front of the SJC gold bullion. The back side contains the SJC logo and information about the weight, gold content, and product code.

Why is SJC gold more valuable than other 9999 gold bullion in Vietnam?

Many stores or gold trading companies across the country produce and sell 9999 gold bullion, but when it comes to pricing, it is challenging to surpass the value of SJC gold bullion.

This is because SJC gold bullion is produced by SJC, a company that is well-known for its brand recognition when purchasing gold. The trust in the SJC brand has increased the value of SJC gold compared to 9999 gold produced and sold by other brands in the domestic gold market.

In addition, SJC gold is also managed by the State, ensuring its quality and high credibility.

Furthermore, SJC gold is highly liquid, as it can be traded at most gold shops nationwide. The limited supply of SJC gold bullion in the market, coupled with the increasing demand for gold among the population, has led to higher prices and less price volatility. Therefore, Vietnamese people consider SJC the "national gold brand."

What role does brand value play in determining product prices?

According to the World Intellectual Property Organization (WIPO), a brand is a combination of tangible and intangible elements, including not only trademarks, designs, logos, and trade dress but also the concepts, images, and reputation associated with a product or service that a business wants to convey to customers.

Therefore, brand value plays a crucial role in determining the price of a product by influencing how consumers evaluate and choose between products from a specific brand and alternative options.

When a brand has built a reputation and high recognition, it can enhance the value of its products. Consumers are often willing to pay a higher price if they trust the quality, reliability, and value that the brand brings.

Therefore, protecting brand value is essential, especially for businesses. In Vietnam, trademarks are protected by the Intellectual Property Office and other legal documents such as the Law on Intellectual Property,...

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Key word: go;d | SJC gold | 9999 gold | Vietnam | in Vietnam |

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