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.
amendments to gold regulations on agenda

Amendments to gold regulations on agenda

Vietnamese authorities have identified issues and will close regulatory loopholes to stabilise the gold market, according to Malayan Banking Berhad (Maybank).
adb highlights geopolitical tensions in gold market

ADB highlights geopolitical tensions in gold market

During a press briefing in Hanoi on April 11, Nguyen Ba Hung, chief economist at the Asian Development Bank (ADB) office in Vietnam, addressed fluctuating trends in the global gold market.
gold hits fresh record above 2200 on rate cut hopes

Gold hits fresh record above $2,200 on rate cut hopes

Gold rallied to a fresh record above $2,200 on Thursday as traders welcomed a Federal Reserve signal that it would cut interest rates three times this year.
global practices must be considered for gold market

Global practices must be considered for gold market

Vietnam’s potential for expansion is driven by demographic advantages and anticipated regulatory changes. Shaokai Fan, regional director for Asia-Pacific (excluding China), and head of Central Banks at the World Gold Council, talked to VIR’s Celine Luu about the bullish gold market trajectory.
central bank ponders fresh policy for gold

Central bank ponders fresh policy for gold

The State Bank of Vietnam is set to update regulations in response to market changes and global uncertainties affecting gold demand and prices.
pm orders prompt measures to stabilise domestic gold market

PM orders prompt measures to stabilise domestic gold market

Prime Minister Pham Minh Chinh has signed to issue an official dispatch asking for measures to strengthen the management of the domestic gold market.
vietnamese gold demand shrinks in q2

Vietnamese gold demand shrinks in Q2

Demand for gold in Vietnam shrank 9 per cent in the second quarter this year compared to the same period last year, according to the World Gold Council’s latest report.
exploring the aspects of global gold performance

Exploring the aspects of global gold performance

Intending to invest in gold in 2023? Let’s look at XAU’s big picture and find out what factors will drive gold price in 2023.
vietnam has highest gold demand in southeast asia

Vietnam has highest gold demand in Southeast Asia

Vietnam has the highest demand for gold in Southeast Asia, Andrew Naylor, Regional CEO, Asia-Pacific (excluding China) and Public Policy of the World Gold Council, said during a recent virtual workshop on the Vietnamese gold market.
online gold market a catalyst for confidence

Online gold market a catalyst for confidence

After a cautious 2021 in gold purchasing, the combination of falling volatility and adoption of tech could lead to a bumper 2022 as a whole.