Gold bar prices remain high, State Bank strictly prohibits speculation, price manipulation, and profiteering

(NLDO) - Enterprises and commercial banks need to take measures to strictly prohibit the practice of speculating, manipulating prices, and profiteering on gold bars.

This is the content clearly stated by the State Bank - Branch Region 2 in a document sent to general directors, directors of enterprises and commercial banks licensed to trade gold bars in Ho Chi Minh City and Dong Nai , regarding compliance with regulations in gold bar trading activities.

In the face of the situation of continuously increasing gold bar prices, which pose many potential risks, the State Bank - Branch Region 2 requires units to continue to comply with the provisions of Decree 24/2012 on the management of gold trading activities, circulars guiding the implementation of Decree 24 and other relevant legal documents when conducting gold bar trading activities.

The State Bank - Branch Region 2 also requested the organization to research and implement Decree 232/2025 (amending and supplementing a number of articles of Decree 24, effective from October 10); strengthen internal inspection and control of gold bar trading activities; promptly detect and handle violations.

Domestic gold prices stagnated after many days of strong increase.

"There are measures to manage, monitor and strictly prohibit all forms of speculation, price manipulation and profiteering, which not only affect the market but also violate legal regulations in gold bar trading activities, affecting the effectiveness of macroeconomic stabilization policies" - the document of the State Bank - Branch 2 clearly stated.

At gold bar trading locations, the State Bank - Branch 2 recommends informing customers and people that these are licensed locations; strengthening the implementation and application of non-cash payment methods in gold bar trading activities, reducing risks of distortion, causing market instability...

World gold price hits new peak

At the end of September 8, the price of SJC gold bars was listed by major companies at 133.1 million VND/tael for buying and 135.1 million VND/tael for selling - down 300,000 VND compared to the previous day.

The price of 99.99% gold rings and jewelry gold was kept at 127.7 - 130.2 million VND/tael (buy - sell), unchanged from the previous day.

On the free market, some stores in Ho Chi Minh City quoted buying prices of 135.5 million VND/tael and selling prices of 138.5 million VND/tael - a total decrease of 5 million VND compared to the highest level a day before.

Domestic gold prices have stagnated, despite the world gold price hitting a new peak - surpassing 3,600 USD/ounce on the afternoon of September 8 (Vietnam time). Notably, domestic gold prices have "stagnated" after the Prime Minister's directive requiring the State Bank to implement necessary solutions and tools to stabilize the gold market.

Source: https://nld.com.vn/gia-vang-mieng-neo-o-muc-cao-ngan-hang-nha-nuoc-nghiem-cam-dau-co-lam-gia-truc-loi-196250908185013612.htm