The State Bank of Vietnam (SBV) is seeking public feedback on a draft amendment to Government Decree No. 24/2012/ND-CP on the management of gold trading activities, introducing new rules on payment methods.

Vietnam’s Gold Association urges reduced barriers and streamlined licensing for bullion makers.

Due to limited gold bullion supply, some enterprises and credit institutions have engaged in illegal trading, legitimized smuggled or illegally mined gold, evaded taxes, or spread false information.

State Bank of Vietnam sees SJC domestic gold prices climb against global trends, possibly due to profiteering.

Although Decree 24 empowers the State Bank of Vietnam (SBV) to intervene and stabilize the gold market, it does not authorize the SBV to control the buying and selling prices of SJC gold bullion set by enterprises or commercial banks.

Gold bar production to open up under draft decree, raising hopes for a more competitive market.

New draft regulations could allow more gold producers, pressuring prices toward the 100M VND/tael mark.

Eligible banks and enterprises will be licensed to import raw gold and produce bullion — a function that, until now, has been exclusively assigned to a single entity.

Party Secretary General To Lam’s directive to abolish the state’s monopoly on gold bullion branding is a bold strike against the “ban what cannot be managed” mindset and the “ask-and-grant” scheme.

Long-standing state control over gold is set for reform, marking a pivotal shift in economic governance.

Experts believe that setting up a gold exchange will bring numerous benefits, especially if it is integrated into a new international financial center.

Vietnamese financial firms pledge transparency and reform after SBV inspection results.

He requested that the State's monopoly on gold bullion branding should be dismantled in a controlled way, with the principle that the government retains oversight of bullion production.

The Prime Minister proposes creating a regulated gold exchange to enable transparent public trading and prevent market manipulation and smuggling.

Experts believe it’s highly unlikely that gold prices will fall back to VND 100 million (around USD 3,930) per tael and have proposed allowing citizens to deposit gold at the State Bank of Vietnam (SBV) to earn interest.

Prime Minister Pham Minh Chinh has asked the State Bank of Vietnam (SBV), ministries and agencies to implement measures to effectively manage the gold market.

Vietnam saw a 15% drop in gold demand in Q1 2025 due to domestic shortages and rising costs.

In just one decade, gold prices in Vietnam have fluctuated dramatically, climbing nearly 85 million VND (about $3,340) per tael, from 33.3 million VND per tael in 2016 to 118 million VND today.

Gold surged to 118 million VND per tael as hundreds queued in Hanoi’s Tran Nhan Tong Street, causing chaos and stock shortages.

Despite being limited to purchasing just one chi (3.75 grams) of gold per day, hundreds of Hanoi residents have been patiently lining up outside Bao Tin Minh Chau jewelry store to buy gold as prices continue to surge.