Research on establishing a gold trading floor, people are free to trade and buy and sell

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

The Head of Government pointed out a number of issues that have emerged in the gold market recently, such as the difference in domestic and international gold prices, and some actions by businesses participating in the gold market that involve manipulation, hoarding, and price hikes.

Besides, smuggling is still complicated; management is sometimes loose in some places, not suitable for the market economy , actual conditions and developments.

In the coming time, the Prime Minister emphasized the goal of good and effective management of the gold market to contribute to stabilizing the macro-economy, controlling inflation, promoting growth; having policies to exploit gold resources among the people to participate in socio-economic development and not to manipulate the market, not to smuggle gold.

The Prime Minister emphasized the goal of good and effective management of the gold market to contribute to stabilizing the macro economy, controlling inflation, and promoting growth (Photo: VGP).

The Government leader assigned the State Bank, the Ministry of Finance and relevant agencies to continue improving the safe, favorable, healthy and attractive business environment so that people can actively promote production, business and start-ups instead of storing gold.

The Prime Minister also requested to study the establishment of a gold trading floor in the direction that people are free to trade and buy and sell; separating state management from gold production and trading activities. Thereby, promoting the production and processing of gold jewelry to create more jobs.

The Prime Minister requested the State Bank to strengthen state management and quickly reduce the difference between domestic and world gold prices to only about 1-2%, not over 10% as recently.

At the same time, the State Bank needs to have solutions to increase supply and reduce demand; strictly manage and control, strengthen inspection, examination and prevent and strictly handle smuggling; prevent elements from manipulating, hoarding goods, raising prices, and disrupting the market.

The Prime Minister requested to amend Decree 24 on gold trading in a shortened form and build a database on the gold market, to be completed by June this year.

The head of the Government also requested to strengthen information and communication work, relieve people's psychology of keeping gold and research and invest in a system to create electronic invoices from cash registers in gold trading.

Source: https://dantri.com.vn/kinh-doanh/nghien-cuu-lap-san-giao-dich-vang-nguoi-dan-duoc-tu-do-giao-dich-mua-ban-20250524204359755.htm