Banks have issued warnings to customers about growing risks tied to online and black market gold transactions, as scammers deploy increasingly sophisticated tactics to defraud investors and buyers.
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.
The domestic gold market shone last week, with prices of gold rings continuously breaking records and even surpassing the buying price of SJC gold bars.
On the day gold prices peaked, many gold shops in Hà Nội only sold a maximum of five taels, leading to people buying and selling hand to hand outside the store.
Users are especially interested in information that directly affects life, when the number of searches for gold price, condominium or the demand for cheap airline tickets tends to increase markedly, the report showed.
Thursday’s morning trading session (March 15) saw SJC gold bars ping to nearly, even below the VNĐ80 million (US$3238) per tael mark as gold rings ped to the VNĐ66.8 - 68.5 million range, after several days of rapid price hikes.