Vietnam eyes gold market reform with quota-based imports, tighter control, and more competition.

SJC acting CEO says firm has addressed central bank’s recommendations without major violations.

Though the general trend is upward, gold prices are still experiencing short-term corrections. However, compared to the 2022-2023 period when gold prices repeatedly hit new highs, the current upward trend is no longer as strong.

The Vietnam Gold Business Association, which has been lobbying for enterprises’ right to import gold, says there is no need to worry that gold imports will lead to ‘foreign currency bleeding’.

Global tensions rise, but gold slips-what's behind the unexpected drop?

The State Bank of Vietnam (SBV) is seeking public feedback on a draft amendment to Government Decree No. 24/2012/ND-CP on the management of gold trading activities, introducing new rules on payment methods.

Vietnam’s Gold Association urges reduced barriers and streamlined licensing for bullion makers.

Due to limited gold bullion supply, some enterprises and credit institutions have engaged in illegal trading, legitimized smuggled or illegally mined gold, evaded taxes, or spread false information.

State Bank of Vietnam sees SJC domestic gold prices climb against global trends, possibly due to profiteering.

Although Decree 24 empowers the State Bank of Vietnam (SBV) to intervene and stabilize the gold market, it does not authorize the SBV to control the buying and selling prices of SJC gold bullion set by enterprises or commercial banks.

Gold bar production to open up under draft decree, raising hopes for a more competitive market.

New draft regulations could allow more gold producers, pressuring prices toward the 100M VND/tael mark.

Eligible banks and enterprises will be licensed to import raw gold and produce bullion — a function that, until now, has been exclusively assigned to a single entity.

Party Secretary General To Lam’s directive to abolish the state’s monopoly on gold bullion branding is a bold strike against the “ban what cannot be managed” mindset and the “ask-and-grant” scheme.

Long-standing state control over gold is set for reform, marking a pivotal shift in economic governance.

Experts believe that setting up a gold exchange will bring numerous benefits, especially if it is integrated into a new international financial center.

Vietnamese financial firms pledge transparency and reform after SBV inspection results.

He requested that the State's monopoly on gold bullion branding should be dismantled in a controlled way, with the principle that the government retains oversight of bullion production.

The Prime Minister proposes creating a regulated gold exchange to enable transparent public trading and prevent market manipulation and smuggling.