Gold price skyrockets, Deputy Prime Minister asks State Bank to intervene

Gold prices in Vietnam have just experienced a week of continuous peak breaking.

The Government Office has just issued a document conveying the direction of Deputy Prime Minister Ho Duc Phoc on the domestic gold price movement.

Accordingly, Deputy Prime Minister Ho Duc Phoc requested the State Bank to preside over and coordinate with relevant agencies to closely monitor the situation and developments in the domestic and international financial, monetary, foreign exchange, and gold markets to promptly implement solutions as prescribed to stabilize the gold market.

In addition, the State Bank needs to further strengthen inspection, examination and strictly handle violations according to regulations, not allowing profiteering, manipulation, price fixing, speculation... in the gold market; proactively implement communication measures to stabilize social psychology.

Deputy Prime Minister Ho Duc Phoc's directive was given in the context of domestic gold prices being continuously adjusted to increase, setting new records.

In just the past 3 days, the price of SJC gold bars has increased by 12 million VND per tael. This is a record increase in the past several months.

Currently, SJC gold bars are listed by businesses at around 117 - 120 million VND per tael (buy - sell).

Meanwhile, the supply in the gold market is currently scarce. The difference between buying and selling prices is at 3 million VND per tael.

The gap between domestic and world gold prices has now widened to 14.5 million VND per tael, while at the beginning of April this difference was only about 4 million VND per tael.

TH (according to Vietnamnet)

Source: https://baohaiduong.vn/gia-vang-tang-vot-pho-thu-tuong-yeu-cau-ngan-hang-nha-nuoc-vao-cuoc-409717.html