PM presses for completion of national gold exchange proposal in January
VOV.VN - Prime Minister Pham Minh Chinh has asked the State Bank of Vietnam (SBV) to urgently finalise a study and assessment of a proposal to establish a national gold exchange, and submit it to the Government’s Standing Committee in January.
The request was made in an official dispatch dated January 24 as one of the key measures to achieve economic growth targets, as 2026 marks the first year of Vietnam’s 2026–2030 socio-economic development plan and the beginning of a new development phase.
Economists have in recent years proposed setting up a centralised gold trading platform to create a transparent marketplace and better align domestic gold prices with international movements.
According to experts, a well-designed and efficiently operated gold exchange would help form a common reference price, reduce large price discrepancies and improve transparency, while strengthening state management of gold trading activities.
International experience shows that countries such as China and India have successfully operated gold exchanges, helping secure raw material supply for jewellery manufacturing, promote exports and contribute to economic growth.
Analysts say Vietnam needs to establish a national gold exchange to bring the market into a more transparent, centralised and manageable framework, replacing the current fragmented and loosely regulated trading environment.
Through the exchange, gold prices would be formed openly based on supply and demand, helping curb speculation and price manipulation and gradually narrow the gap between domestic and global prices.
The exchange is also expected to help reduce the “goldisation” of the economy by encouraging people to shift from holding physical gold to account-based trading, thereby channelling idle capital back into the financial system.
It would also provide the SBV with a more effective tool to monitor, intervene in and regulate the gold market in line with international practices and macroeconomic stability objectives.
Domestic gold prices near record highs as global rally accelerates
VOV.VN - Gold prices in Vietnam surged on January 21,surpassing VND170 million (US$6,700) per tael mark, tracking a sharp rally in global markets driven by heightened geopolitical tensions and strong safe-haven demand.
