The State Bank has just sent to the National Assembly the report No. 145/BC-NHNN, which mentions the gold market. The report indicates that on April 23, 2025, the difference between national and global prices of SJC gold ingots increased sharply to reach around 14.48 million VND/Tael, or 13.62 %.
Previously, after having implemented many solutions to stabilize the market, at the end of 2024, the difference between the national and global prices of gold had decreased considerably, from around 25 % to 5-7 %, or about 3-5 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.
In addition, the increase in gold reserves purchased by central banks and investment funds, as well as the high tax policy of the American president Donald Trump, have exerted strong pressure on the global economy, which led to a massive influx of money from investors to gold.
At the national level, the price of SJC gold ingots fluctuates in the same direction as the world price of gold, but the increase rate is faster due to the expectation that gold prices will continue to increase. At the same time, the supply of gold ingots has not been completed since the beginning of the year and there is a possibility of speculation and price inflation on the part of certain organizations and individuals for lucrative purposes.
Although the gold market has experienced strong fluctuations, the State Bank said that this did not negatively affect the management of monetary policy and the stabilization of macroeconomics.
The State Bank undertakes to continue to closely monitor the situation of the national and international gold market and to coordinate with the competent agencies to strengthen the management and operation of the gold market in accordance with its functions and its authority.
The State Bank has also recognized that the gold market has not yet reached sustainable stability, that it is still strongly influenced by psychology and expectations of people and investors, and that it presents potential risks for currency and exchange markets.
Consequently, in addition to technical and administrative solutions, long -term stabilization of the gold market requires synchronous coordination between ministries, branches and 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, continue to promote communication work to provide complete and timely political information in order to stabilize the feeling of the market.
Second, developing an emergency a decree modifying and completing a certain number of articles in the decree 24/2012/ND-CP according to simplified procedures.
Third, coordinate closely with the Ministry of Public Security, the Ministry of Industry and Commerce, the Ministry of Finance and the agencies concerned to strengthen the inspection and examination of the activities of gold trade companies, stores, distributors and participants in the market, in order to quickly detect flaws, inadequacies and violations for strict management, and at the same time proposing appropriate management, gold and to ensure the security of the national financial system.
Source : https://baodaknong.vn/day-manh-thanh-tra-thi-truong-vang-ngan-chan-dau-co-va-thao-tung-gia-251676.html
