vietnam's gold market

Update news vietnam's gold market

How can gold fever be tamed?

Some analysts have suggested removing the gold monopoly in order to stabilize domestic gold prices, but the removal will not be enough to reach that end.

Government urged to probe gold traders to prevent possible market manipulation

The National Assembly (NA) Standing Committee has asked the Government and the Prime Minister to investigate gold trading firms to promptly address any violations in business activities and possible market manipulation, amid soaring domestic prices.

VN central bank to resume gold bar bidding after 11 years

The State Bank of Vietnam (SBV) will resume gold bar bidding after 11 years, aiming to increase the supply of gold to the market, promptly and immediately settle the high difference in domestic and international gold prices.

Gold prices set new records, deposit interest rates start to rise

Although the gold price climbed to its peak in many consecutive sessions and set new records, the gold price continuously plummeted in the last two sessions of the week.

Gold prices hit new record high at VND85 million per tael

Gold prices in the domestic market maintained an upward trend on April 12, with gold bars reaching a new high of VND85 million per tael, and gold rings setting new record of VND78.20 million per tael.

SJC gold price turns down, gold ring conquers new mark

On the day gold prices peaked, many gold shops in Hanoi only sold a maximum of five taels, leading to people buying and selling hand to hand outside the store.

Gold prices rise, central bank stops issuing bills

The State Bank of Vietnam (SBV) has taken an unexpected move amid higher gold prices, increased dong/dollar exchange rate, and an active crypto market.

Association proposes allowing three companies to import 1.5 tonnes gold per year

VN Gold Traders Association has proposed three companies be allowed to carry out gold import of around 1.5 tonnes per year as a bold effort to gradually remove the monopolies in the domestic gold market.

Vietnam urged to abolish state monopoly on gold bullion production

It is time for Vietnam to abolish the state monopoly on gold bar production and to grant production licenses to qualified enterprises.

Gold prices reach new peak, but cash still heading for stock market

The Vietnamese stock market is attracting billions of dollars, though the gold market is  hot with SJC gold prices soaring, while the dong/dollar exchange rate has hit new peaks and the central bank has withdrawn cash from circulation.

VN central bank required to take urgent measures to stabilise gold market

The Government has directed the State Bank of Vietnam (SBV) to urgently inspect and supervise to stabilise the gold market.

Domestic gold price sets new record, fuelled by global trend

Domestic gold prices rallied on Thursday morning to set a new record at VNĐ81.25 (US$3,385.4) million per tael for SJC gold bars.

Gold price hits record high, exchange rate close to historic peak

Gold prices have soared because of geopolitical uncertainties, putting pressure on the Vietnam dong. But the dong price will not fluctuate too heavily, analysts say.

Experts urge mobilization of gold hoarded in people's coffers

Estimating that 400 tons of gold are in people’s coffers, experts have urged the use of gold as capital for the national economy through the issuance of gold deposit certificates.

Vietnam’s gold demand impacted by global economic trends in 2023

The World Gold Council’s Gold Demand Trends report reveals that annual gold demand (excluding over-the-counter) fell to 4,448 tonnes in 2023, down just 5% from a notably strong 2022.

Vietnam consumes more than 55 tonnes of gold annually

Vietnam consumed nearly 55.5 tonnes of gold jewelry in 2023, down 6% compared to the previous year, according to the World Gold Council (WGC).

Experts suggest abolishing monopoly on SJC gold bars

Economists at a seminar on solutions to develop a safe and sustainable gold market suggested abolishing the monopoly on SJC gold bars.

State does not encourage gold bar trading: VN central bank

The State does not encourage the trading of gold bars, protect their prices, nor accept too large differences between domestic and global gold prices, and between SJC and other types of gold bars.

PM requests stabilizing gold market amid price volatility

The Prime Minister has signed a telegram, asking for solutions to be introduced to rein in the gold market that has fluctuated sharply in recent times.

Gold prices soar as market heats up towards Tet

SJC bullion gold prices in the domestic market have been climbing to new highs. On December 22, prices surpassed VND76 million, and then the VND77 million per tael threshold.