Gold prices increase 'dizzily', Government requests comprehensive inspection from September 9

DNVN - Permanent Deputy Prime Minister Nguyen Hoa Binh has requested the Government Inspectorate to preside over and coordinate with ministries and branches to establish an inspection team on September 9, 2025 to inspect the law compliance of credit institutions and enterprises in gold trading activities.

The Government Office has just issued Document No. 8390/VPCP-VI dated September 8, 2025 conveying the direction of Permanent Deputy Prime Minister Nguyen Hoa Binh on the recent gold market situation.

Accordingly, the Government Inspectorate will coordinate with the Ministry of Industry and Trade, the Ministry of Finance, the Ministry of Public Security and the State Bank to urgently establish an inspection team on September 9. The inspection will focus on the compliance with policies and laws of credit institutions and enterprises in gold trading activities, anti-money laundering, the creation and use of invoices and documents, and other related issues.

In case of detecting signs of law violations during the inspection process, the file will be immediately transferred to the police for handling. The inspection results will be reported to the Prime Minister in September 2025.

Deputy Prime Minister Nguyen Hoa Binh requested a comprehensive inspection of gold trading activities from September 9, 2025.

The State Bank is required to immediately implement drastic measures to ensure the gold market operates safely, healthily and effectively, and not to let gold price fluctuations affect the stability of the financial, monetary and macro-economic markets. This agency must periodically report to the Prime Minister and the First Deputy Prime Minister before 11am every Friday on developments in the gold market.

The Ministry of Public Security is also assigned to direct functional forces to coordinate with the State Bank and relevant agencies to strictly and promptly handle all violations of the law in the gold market, especially smuggling, fraud, tax evasion, speculation, illegal trading, hoarding and manipulation of gold prices.

In recent days, the gold market has continuously set record high prices. From the beginning of September to September 8, SJC gold bars increased by nearly 4.8 million VND/tael, equivalent to an increase of about 3.6% in just four days.

On the morning of September 8, SJC gold bars traded around 133.1-135.1 million VND/tael, although there was a slight decrease of about 300,000-800,000 VND/tael after instructions from the Government.

Minh Thu

Source: https://doanhnghiepvn.vn/kinh-te/gia-vang-tang-chong-mat-chinh-phu-yeu-cau-thanh-tra-toan-dien-tu-ngay-9-9/20250908041202412