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People urged to be cautious in gold transactions
People need to be cautious when trading gold to minimise risks amid fluctuations in international gold prices and moves to stabilise the domestic gold market in the coming time, according to the State Bank of Vietnam (SBV).
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| SBV affirmes that it would continue to organise gold bar auctions with gold volume and frequency consistent with the market demand. |
SBV worked with the People’s Committee of Ho Chi Minh City on May 12 to implement the Prime Minister’s direction on coordinating efforts to manage the gold market.
Within the meeting, the two sides agreed to coordinate with each other and relevant agencies to urgently implement measures in accordance with the law and Government Decree No.24/2012/ND-CP, dated April 3, 2012, to manage and operate the domestic gold market in a manner that prevents profiteering, speculation, manipulation, and price pushing.
They also agreed to apply information technology and digital transformation in monitoring and management of the gold market. In addition, gold businesses must strictly implement regulations on electronic invoices regarding gold purchases and sales.
Saigon Jewelry Joint Stock Complany (SJC) was also directed to immediately carry out solutions to stabilise the gold market.
SBV affirmed that it would continue to organise gold bar auctions to provide gold bars to the market with gold volume and frequency consistent with the market demand./.
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