the driving forces for gold price surge

The driving forces for gold price surge

Gold is still a promising investment channel that brings positive profits. Trinh Ha, a financial market analyst from Exness Investment Bank, explores the potential long-term gains for gold.
gold price hits record high on rate cut expectations

Gold price hits record high on rate cut expectations

The price of gold soared Tuesday to a record peak, propelled by trader expectations of falling US interest rates in September as inflation cools.
tightened status necessary for controlling gold market

Tightened status necessary for controlling gold market

Experts are calling for stricter regulations and enhanced transparency to combat money laundering and market manipulation in Vietnam’s gold market.
gold monopoly could pose long term currency risk

Gold monopoly could pose long-term currency risk

The government has implemented a policy granting banks an exclusive monopoly on gold sales to control prices and stabilise the domestic market, but the policy may harbour risks in foreign currency outflows.
buyers no longer line up for gold purchases at banks

Buyers no longer line up for gold purchases at banks

Long queues of gold buyers were no longer seen in front of designated sites of four State-owned commercial banks on June 17 morning.
central bank targets ongoing price control of gold market

Central bank targets ongoing price control of gold market

Unprecedented measures are being taken to ensure effective management of the domestic gold market and narrow the gap with the global market.
adjustments holding promise for gold

Adjustments holding promise for gold

Vietnamese authorities are bolstering oversight of the gold market, implementing stringent controls to stabilise prices and prevent illegal trading.
eleven bidders win latest gold auction

Eleven bidders win latest gold auction

Eleven bidders bought a total of 12,300 out of the 16,800 taels of SJC-branded gold bullion that the State Bank of Vietnam (SBV) offered for sale at an auction held on May 16.
government urged to narrow domestic global gold price gap

Government urged to narrow domestic, global gold price gap

Permanent Vice Chairman of the National Assembly (NA) Tran Thanh Man on May 13 voiced concern over skyrocketing gold prices, asking the Government to quickly review market management measures to narrow the wide gap between domestic and global prices.
leaders up efforts to control domestic gold prices

Leaders up efforts to control domestic gold prices

Amid an escalation of gold prices, the current method of gold bar auctions may not be the optimal direction to effectively control domestic prices, experts have warned.
cautious state remains after gold auction

Cautious state remains after gold auction

Despite high market interest, Vietnam’s inaugural gold auction left 13,400 taels unsold, with restrictive conditions and regulatory uncertainties dampening enthusiasm and complicating efforts to align domestic prices with global rates.
vietnam should explore tax on gold investments amid auction strategy expert

Vietnam should explore tax on gold investments amid auction strategy: expert

This week, the State Bank of Vietnam (SBV) orchestrated a gold bar auction to stabilise the gold market. Prof. Tran Tho Dat, an economic advisor to the prime minister, mentioned that in addition to the auctions, allowing gold imports and imposing taxes on gold investment activities were necessary measures.
gold market reforms paramount to stability

Gold market reforms paramount to stability

Investigations of gold trading firms are to take place on possible market manipulation amid soaring domestic prices, at the same time as the central bank announced it would resume sales of gold bullion for the first time in over a decade.
central bank to resume gold bar bidding after 11 years

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, thus ensuring the gold market operates in a safe and stable, healthy, open, transparent and effective manner in accordance with the Prime Minister's direction.
pm demands strengthened gold market management

PM demands strengthened gold market management

Prime Minister Pham Minh Chinh has asked the State Bank of Vietnam (SBV) to keep a close watch on international and domestic gold prices, and put in place measures and tools in a timely and effective way to regulate the gold market in line with regulations.