Việt Nam 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.
Together with the general Vietnamese preference of keeping gold as a means of reserve to hedge against inflation and risks, the monopolies cause unbalance of supply and demand in the gold market, causing domestic gold prices to differ widely from...
HCM CITY (VNS)— Credit institutions are no longer allowed to give loans
to customers who want to purchase gold in any form, including primary
gold, bullion and jewellery, according to the State Bank of Viet Nam
(SBV).
