The State Bank will strengthen the inspection of gold trading activities

The National Gold Prize “follows” the world Prize

The State Bank said that gold prices on the internal market largely depend on world gold prices. Recently, this agency has had many solutions to manage the gold market.

According to report No. 145/BC-NHNN sent by the State Bank to the National Assembly, on April 23, 2025, the difference between the national and global prices of SJC converted gold ingots had flown to around 14.48 million VND/Tael, or around 13.62 %.

Previously, after numerous solutions to stabilize the market, at the end of 2024, the difference between national and global prices of gold had decreased sharply, from around 25 % to around 5 to 7 %, the equivalent of 3 to 5 million VND/Tael. In particular, at the beginning of 2025, there will be a time when the difference will only be around 1 to 2 %.

However, since the beginning of April 2025, the internal gold market has recorded high fluctuations, the world prices of gold, which are continuously reaching new heights.

The State Bank stressed that the main cause was global political instability, such as the military conflict between Russia and Ukraine, the tensions between Israel and Islamic forces in the Middle East, as well as the climbing of global strategic competition …

At the national level, the prices of SJC gold ingots have evolved in the same direction as the world prices, but the increase rate has been faster due to the impact of expectations that gold prices would continue to increase, and the supply of gold ingots has not been supplemented since the start of the year. Added to this is the possibility of speculation and inflation of prices from certain organizations and certain individuals for lucrative purposes.

Strengthen the inspection of gold trading activities

According to the State Bank, although the gold market has experienced strong fluctuations, this did not have a negative impact on the management of monetary policy and macroeconomic stability. However, the operator has also frankly recognized that the gold market has not yet reached a state of sustainable stability, is still strongly influenced by psychology and expectations of people and investors, and presents potential risks for the currency and exchange markets. Consequently, in addition to the technical and administrative solutions of the State Bank, the fundamental and long -term stabilization of the gold market requires synchronous coordination between the ministries, the branches and the local authorities, under the unified direction of the government and the Prime Minister.

In the coming times, the State Bank will identify a certain number of key orientations in the management of the gold market.

First of all, We must continue to promote communication work in order to provide complete and timely political information, thus helping to stabilize market psychology.

Secondly, Emergency develop a decree modifying and supplementing a certain number of articles in decree 24/2012/ND-CP according to simplified procedures.

Thirdly, Coordinating closely with the Ministry of Public Security, the Ministry of Industry and Trade, the Ministry of Finance and the agencies concerned to strengthen the inspection and examination of the activities of gold commerce, stores, distributors and market participants. Thus, by quickly detecting flaws, shortcomings and violations for strict management, and by offering appropriate management measures at the same time, helping to stabilize the gold market and ensure the security of the national financial system.