The State Bank of Vietnam (SBV) plans to raise the end-of-day gold position limit for credit institutions authorised to produce, export and import gold from 2% to 5% of their charter capital, a move expected to give banks more flexibility in supplying gold to the market.

VOV.VN - Domestic gold prices in Vietnam skyrocketed to a historic high, surpassing VND145 million per tael on the morning of October 14, following a sharp rally in global gold prices that pushed the metal above US$4,135 per ounce.

VOV.VN - SJC gold bars reached new peaks on the morning of October 6, trading near VND140 million per tael as global bullion prices surpassed US$3,900 an ounce for the first time.

VOV.VN - Last week, Vietnam’s gold market witnessed unprecedented developments as SJC gold bars soared above VND135 million per tael, setting a new record and leaving far behind the converted price from the global market.

VOV.VN - Domestic gold prices in Vietnam continued to hit a new peak on August 18, rising by VND500,000 per tael compared to the previous session, reaching VND124–125 million per tael, according to Saigon Jewelry Company (SJC).

On May 30, the State Bank of Vietnam (SBV) announced inspection results for six major gold trading units in the market: Sai Gon Jewelry Company (SJC), DOJI Jewelry Group, Phu Nhuan Jewelry Joint Stock Company (PNJ), Bao Tin Minh Chau, TPBank and Eximbank.

The Government has called for stricter market management, intensified inspections and larger penalties for violations in response to the recent developments in domestic gold prices.

VOV.VN - On the morning of April 18, domestic gold prices surged by 2 million VND per tael, reaching a new peak of VND 120 million per tael, the highest ever, despite a decline in global gold prices.

VOV.VN - Both gold ring and bar prices surged on April 17 in line with global trends, shattering previous records at VND120 million per tael.

VOV.VN - Following the global trend, domestic SJC gold bars and gold rings sharply declined on March 21, slipping below the VND100 million per tael mark established two days ago.