Prime Minister requests to soon issue inspection conclusions of gold trading enterprises

Gold market price fluctuations - Photo: THANH HIEP

According to the telegram, with solutions to stabilize the gold market, by early April 2025, the difference between domestic and world gold prices has been controlled and maintained at a suitable range, at times only about 1%-2%.

Don't let gold price fluctuations affect the market

However, the Prime Minister said that along with internal shortcomings that have not been completely overcome, the unusual and unprecedented developments in the world geopolitical situation since the beginning of 2025 have pushed international gold prices to continuously increase, domestic gold prices have fluctuated strongly, and the gap between domestic and world gold prices has increased.

Therefore, the Prime Minister requested that it is necessary to ensure the effectiveness and efficiency of state management and the goal of developing a safe, healthy, effective and sustainable gold market, not allowing fluctuations in gold prices to affect the stability and safety of the financial and monetary markets, macroeconomic stability, inflation control, economic growth promotion and social psychology.

In particular, he assigned the State Bank of Vietnam to preside over and coordinate with relevant agencies to continue to seriously, fully, effectively and promptly implement tasks and solutions to stabilize the gold market, the directions of the Prime Minister and Government leaders and related documents.

Closely monitor the developments in world and domestic gold prices, promptly implement solutions according to regulations when necessary to stabilize the gold market; avoid negative impacts on exchange rates, interest rates, the money and foreign exchange markets, and national financial and monetary safety and security; report to the Prime Minister on implementation results in May 2025.

Early issuance of business inspection conclusions

Urgently issue inspection conclusions for enterprises and credit institutions trading in gold according to inspection decision No. 324 dated May 17 of the State Bank of Vietnam.

Proactively handle and report to competent authorities to strictly handle violations of the law according to regulations, and report to the Prime Minister on the implementation results in May 2025.

The State Bank shall preside over and coordinate with the Ministry of Justice and relevant ministries and branches to urgently complete the proposal to amend and supplement Decree 24/2012 on the management of gold trading activities.

Supplement and strengthen regulations to enhance the effectiveness of state management tools, develop a transparent, healthy, effective and sustainable market, contribute to promoting socio-economic development, and stabilize the macro-economy; report to the Government according to simplified procedures in June 2025.

Be more proactive in information and communication work; promptly provide official, public and transparent information on policies and strategies for managing the financial, monetary, foreign exchange and gold markets; stabilize people's psychology and create social consensus.

The Ministry of Public Security shall preside over and coordinate with the State Bank of Vietnam and relevant inspection, examination, law enforcement agencies and competent authorities to strictly handle violations of the law related to the gold market and gold trading activities, especially acts of smuggling, speculation, illegal trading, market manipulation, etc.

Ministries including: Public Security, Industry and Trade, Science and Technology, Finance, Justice, Culture, Sports and Tourism, relevant agencies and localities according to assigned functions and tasks proactively coordinate closely with the State Bank of Vietnam on gold market management.

Timely share, provide information and proactively handle tasks and duties within authority; promptly report to competent authorities on issues arising beyond authority. The Government Office monitors and urges according to assigned functions, tasks and authority; reports to the Prime Minister on issues beyond authority.

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NGOC AN

Source: https://tuoitre.vn/thu-tuong-yeu-cau-som-ban-hanh-ket-luan-thanh-tra-doanh-nghiep-kinh-doanh-vang-20250514070854422.htm