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The telegram dispatched to the central bank and relevant ministries says domestic gold prices have recently fluctuated strongly, negatively impacting the financial - currency market, as well as social psychology.

The PM requested that the State Bank of Vietnam keep a close watch on market developments locally and globally, promptly implement market stabilisation solutions, and develop scenarios in response to sharp market fluctuations, to ensure the gold market operates stably, transparently, safely, healthily and effectively.

He also asked the ministries in change of public security, industry and trade, finance, justice, and information and communications, to work closely with the State Bank of Vietnam, to share information and timely deal with incidents that may arise.

Domestic gold prices have kept rising over the past few days, hitting all-time high of more than VND80 million per tael on December 26. Though the prices fell by several millions per tael on December 27, they still stayed high, hovering around VND80 million per tael.

Amid sharp fluctuations, many residents in Hanoi and other big cities flocked to large jewelry stores to line up to wait for transactions, mainly selling gold.

Source; VOV