State Bank tightens management of gold market in Ho Chi Minh City

Accordingly, the State Bank emphasized that people can only buy and sell SJC gold bars at credit institutions and enterprises licensed by the State Bank. Buying and selling gold bars at unlicensed units or trading gold bars without a license is a violation of Decree 24/2012/ND-CP and will be punished according to Decree 88/2019/ND-CP.

The State Bank of Vietnam emphasized that people can only buy and sell SJC gold bars at credit institutions and businesses licensed by the State Bank of Vietnam.

For gold trading enterprises, including gold jewelry and gold bars, they must strictly comply with regulations on operating licenses, certificates of eligibility for production, facilities, safe business plans, invoices, documents, origin and product quality. Publicly posting prices and complying with the law are not only responsibilities but also help prevent risks related to counterfeit goods, smuggling and tax evasion.

The State Bank of Vietnam recommends that people be cautious when buying and investing in gold due to strong fluctuations in gold prices, and calls on the community to comply with regulations to contribute to stabilizing the market, limiting speculation, price manipulation and negative impacts on the economy .

On this occasion, the State Bank also provided a list of licensed gold bar trading locations in Ho Chi Minh City via QR code, helping people easily look up and transact at legal units.

According to News and People Newspaper

Source: https://doanhnghiepvn.vn/kinh-te/ngan-hang-nha-nuoc-siet-chat-quan-ly-thi-truong-vang-tai-tp-ho-chi-minh/20250515070119437