The State Bank of Vietnam said it will monitor gold markets closely and coordinate with agencies to manage and stabilise the market within its authority.
Prime Minister Phạm Minh Chính signed Directive No. 03/CT-TTg on February 4, 2025, highlighting key tasks for implementation after the 2025 Lunar New Year holiday. The directive includes a special emphasis on stabilising the gold market in Việt Nam.
Governor Hồng said the establishment of a gold exchange has positive aspects such as transparency and more favourable conditions for buying and selling needs of people and businesses, however, it requires investment in infrastructure.
SJC gold bullion rose by VNĐ1 million per tael (US$39.56 per tael) from the previous session to VNĐ88 million for buyers and VNĐ90 million for sellers.
In May, SBV launched an inspection campaign focussing on law compliance of gold trading enterprises, part of efforts to narrow the gap between international and domestic gold prices.