SBV to increase gold bar supply to stabilise domestic market

The State Bank of Vietnam (SBV) will increase the supply of gold bullion to handle the existing huge difference in domestic and world gold prices, SBV Deputy Governor Pham Thanh Ha told the press on April 12.

This is one of the bold solutions raised by the SBV after Prime Minister Pham Minh Chinh asked for prompt efforts to be taken to stabilise the domestic gold market, ensuring its transparent, healthy and efficient operation.

For the gold jewellery segment, the SBV will strive to ensure raw materials for production and export.

In addition, the SBV will increase cooperation with relevant ministries and agencies to ask enterprises to issue e-invoices for every transaction which will help improve transparency of the domestic gold market as well as the management efficiency, Ha said.

SBV to increase gold bar supply to stabilise domestic market -0
Illustrative image (Photo: VNA)

The supervision will also be enhanced to prevent smuggling of gold, speculation and gold price manipulation.

Inspection on the gold business of enterprises and credit institutions will be carried out this month, he stressed.

The SBV has proposed amendments to Decree 24 on gold business management towards ensuring on-track development of the domestic gold market and efficiency in management.

The domestic gold prices have increased strongly recently to set new records, widening the gap with the global prices.

SJC gold prices were listed at 82.8 million VND (3,310 USD) for buying and 84.8 million VND for selling per tael at 3pm on April 12 to set new records, an increase 900,000 VND per tael compared to the April 11 trading session.

SJC gold buying prices have increased by 17.5% and selling prices by 15.4% since the beginning of this year.

At Bao Tin Minh Chau, plain gold rings are listed at 75.78 million VND for buying and 77.68 million VND per for selling per tael, an increase by 1.3 million VND per tael over April 11 closing.

On Kitco.com, gold spot price increased 1.17% to 2,399.20 USD per tael as of 3.05pm (local time). The bullion hit an all-time high for an eighth straight session on April 9.

Bullion prices hit an all-time high for an eighth straight session on April 9 after softer-than-expected US producer prices data boosted hope for US rate cuts this year. Year on year, gold is up around 16% as central banks are stocking gold, seeing gold as a safe haven during time of economic and international turmoil.

At a recent meeting about gold market, the PM asked the SBV to promptly implement solutions effectively manage the gold market, especially handling the existing huge gaps between SJC gold prices with the world prices.

The focus will be on ensuring supply of raw materials for the production and gold bullion and jewellery and increasing the export of gold jewellery.

The PM also asked inspections to be enhanced on gold business to prevent smuggling, speculation and price manipulation. Violations must be strictly handled.

VNA

Other News

Vietnam accelerates innovation to boost growth, competitiveness

Vietnam accelerates innovation to boost growth, competitiveness

By 2030, Vietnam aims to rank among the world’s top 40 in the GII; raise total social investment in R&D to at least 2% of GDP, with non-State funding accounting for over 60%; increase international scientific publications by an average of 10% annually; and raise the number of patent applications and granted patents by an average of 16-18% annually.

Vietnam sees high growth prospects

Vietnam sees high growth prospects

Experts from the Institute of Vietnam and World Economy under the Vietnam Academy of Social Sciences noted the quality of recent growth as the high growth rate has been recorded against an increasingly higher comparative base.

Vietnam seeks bigger share of global Halal market

Vietnam seeks bigger share of global Halal market

Vietnam's Halal exports remain modest at around 900 million USD a year, accounting for less than 1% of the global market. Most exports are still raw agricultural and seafood products. Only around 1,000–1,300 Vietnamese businesses obtained or maintained Halal certification during 2024–2026.

Hanoi sets up inter-agency mechanism to operate carbon market

Hanoi sets up inter-agency mechanism to operate carbon market

Under a decision of the municipal People’s Committee on establishing an inter-agency working group, departments and agencies are responsible for identifying facilities subject to greenhouse gas inventories, developing emissions-reduction plans and studying projects capable of generating carbon credits.

Shrimp exports reach 3.3 billion USD in eight months

Shrimp exports reach 3.3 billion USD in eight months

According to data from the Vietnam Customs cited by the Vietnam Association of Seafood Exporters and Producers (VASEP), shrimp exports reached 478.5 million USD in August, up 4.2% from the same month last year. The eight-month total stood at 3.3 billion USD, representing a year-on-year increase of 12%.

Russian investors explore opportunities in Vietnam's real estate market

Russian investors explore opportunities in Vietnam's real estate market

Vietnam is seen as a potential market, with considerable room for growth in real estate, particularly commercial property, compared with some regional markets. Strong Vietnam-Russia ties and opportunities to establish foreign-invested enterprises are also considered favourable for Russian investors.

Phu Quoc airport planning adjusted to serve APEC 2027

Phu Quoc airport planning adjusted to serve APEC 2027

For 2021-2030, the Civil Aviation Authority of Vietnam proposed bringing forward the investment in a parallel taxiway system and a connecting taxiway north of Runway No. 2 at Phu Quoc International Airport, in order to connect with the aircraft maintenance and repair facility (hangar) planned for the northern area of ​​the airport.

Policy, infrastructure emerge as new advantages in FDI attraction

Policy, infrastructure emerge as new advantages in FDI attraction

From policy and infrastructure to industrial real estate, Vietnam’s FDI advantages are broadening towards a more integrated production ecosystem, offering investors a stronger combination of conditions for high-value, technology-intensive and long-term projects.

Logistics upgrade vital to 1-trillion-USD trade target: experts

Logistics upgrade vital to 1-trillion-USD trade target: experts

As trade expands, systemic bottlenecks across transport networks, warehousing, ports, border gates, and industrial zones are becoming more apparent. Experts emphasise the need to shift from a fragmented, project-by-project approach toward strategic management structured around trade corridors and integrated supply chains.

Ample room for Vietnam, US to deepen cooperation

Ample room for Vietnam, US to deepen cooperation

Do Ngoc Hung, Trade Counsellor and head of the Vietnam Trade Office in the US, said what stands out is not only the growth in trade volume but also the increasingly deep economic ties between the two countries.

Flexible fiscal policy helps drive economic growth

Flexible fiscal policy helps drive economic growth

According to the Ministry of Finance, State budget revenue in the first eight months of 2026 was estimated at 2.02 quadrillion VND (77.7 billion USD), equivalent to 80% of the annual estimate and up 16% year-on-year. Domestic revenue reached 1.75 quadrillion VND, accounting for 86.6% of total revenue and rising 16.6%.

Electronic components are produced at a factory in Hanoi. (Photo: VNA)

Hanoi's imports surge 41% in first eight months of 2026

Hanoi aims to achieve average annual export growth of at least 12% during 2026-30, with the city seeking to diversify export markets, boost high-tech and value-added products and reduce reliance on traditional markets.