Research on establishing a gold trading floor

Prime Minister Pham Minh Chinh chaired a meeting of the Government Standing Committee on gold market management on the evening of May 24.

This is a long-term task assigned by Prime Minister Pham Minh Chinh to the State Bank, the Ministry of Finance and relevant agencies to study and implement at the Government Standing Committee meeting on gold market management on the evening of May 24.

According to the Prime Minister , to improve the safe, convenient and healthy gold trading environment, in the long term, it is necessary to study the formation of a gold trading floor in the direction that people are free to trade and buy and sell. At the same time, separate state management from gold production and trading activities.

Management agencies need to have policies to promote the production and processing of gold jewelry to create more jobs; research and invest in systems to generate electronic invoices from cash registers in gold trading.

The Prime Minister said that the gold market has had some problems recently, such as the difference in domestic and international gold prices, and the situation of manipulation, hoarding, and price gouging. In addition, smuggling has become complicated while management is sometimes and in some places lax.

Regarding immediate solutions, the Prime Minister requested the State Bank to strengthen management and quickly reduce the gap between domestic and international gold prices to 1-2%, not over 10% as recently. At the same time, there must be solutions to increase supply and reduce demand; strictly handle smuggling; and prevent market manipulation.

The Prime Minister requested that Decree 24 on gold trading be amended in a shortened form to suit the situation and that a database on the gold market be reviewed and built. Both tasks must be completed within the next month.

TH (according to VnExpress)

Source: https://baohaiduong.vn/nghien-cuu-lap-san-giao-dich-vang-412346.html