This document conveys the instructions of Deputy Prime Minister Le Minh Khai, based on the State Bank's report at the end of February on the progress of implementing gold market management solutions.
Accordingly, Deputy Prime Minister Le Minh Khai requested the State Bank to preside over and coordinate with relevant agencies to urgently seriously, fully, effectively, and promptly implement tasks and solutions to stabilize the market. Gold is delivered in telegrams and directives of the Prime Minister and official dispatches of the Government Office.
At the same time, the Deputy Prime Minister also assigned the State Bank to coordinate closely with relevant agencies to urgently carry out inspection, examination, control, and supervision strictly, comprehensively, with focus, key to the gold market.
Along with that, there is supervision and inspection of the activities of gold trading businesses, stores, gold bar trading and distribution agents and other entities participating in the market.
The goal is to ensure stability, stability and safety of the gold market, contributing to limiting the goldization of the economy. At the same time, ensuring national financial and monetary security and developing a safe, healthy, effective and sustainable gold market. These tasks are required to report to the Prime Minister the results of handling in March 3.
According to experts, some provisions of Decree 24 are no longer appropriate in the new context and need to be amended.
Since the end of last year until now, the Government has repeatedly asked the State Bank to take measures to manage the gold market to prevent gold bar prices from being too high compared to the world.
Recently, the Prime Minister requested the State Bank to urgently summarize Decree No. 24 on managing gold business activities; Propose solutions to effectively manage the gold market in the new situation, completed in the first quarter of 2024.
At the end of March 18, the gold bar price of Saigon Jewelry Company Limited (SJC) was listed at 3-79,4 million VND/tael (buy - sell). The price of SJC gold rings also cooled down, being bought and sold at the end of the session at 81,42-67,25 million VND/tael.
