Central bank urges caution in gold trading

December 31, 2023

HÀ NỘI The central bank has warned people to take caution when trading gold amid the strong fluctuations of the precious metal. Đào Xuân Tuấn, Director of the State Bank of Vietnam (SBV)’s Department of Foreign Exchange Management, noted that the bank has prepared measures to stabilise the domestic gold market, referring to the increase of SJC-branded gold bullion supply. It will continue coordinating with the Ministry of Public Security and other relevant ministries and agencies to intensify inspections over gold business, Tuấn continued. Given this, Prime Minister Phạm Minh Chính has issued a dispatch asking for measures to strengthen the management of the domestic gold market. He ordered relevant agencies to work with the SBV to immediately roll out measures to strictly handle violations, especially smuggling, manipulation and speculation, ensuring a stable, transparent, safe, healthy and effective domestic gold market.

The source of this news is from Vietnam News