Gold prices in Vietnam have surged 84% since the beginning of 2025, outpacing the 62% global rise and triggering a wave of panic buying across the country.

VOV.VN - Amid soaring domestic gold prices and strong fluctuations in the global market, the State Bank of Vietnam (SBV) has introduced measures to control and stabilise the gold market, aiming to prevent instability that could negatively impact the economy.

Deputy Prime Minister Ho Duc Phoc called for effective coordination between monetary and fiscal measures to ensure macro-economic stability for sustainable development while chairing a meeting on September 16 with the State Bank of Vietnam (SBV) to review monetary policy and gold market management.

VOV.VN - Authorities will set up an inspection team on September 9 to examine gold businesses and credit organisations’ compliance with policies and laws in gold trading in response to the recent sharp rise in domestic gold prices.

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.

Vietnam has officially removed the state monopoly on gold bullion production, marking a significant shift in the country’s gold market dynamics.

Vietnam’s gold market is poised for significant reform as eligible banks and enterprises will soon be permitted to import raw gold and produce bullion — a move expected to invigorate the sector with increased competition and more brands.

Prime Minister Pham Minh Chinh has directed the State Bank of Vietnam (SBV) to intensify oversight of the gold market, aiming to narrow the gap between domestic and global gold prices to a slim 1-2% margin, as part of a broader effort to stabilise the economy, tame inflation, and spur growth.

Prime Minister Pham Minh Chinh has asked the State Bank of Vietnam (SBV), ministries and agencies to implement measures to effectively manage the gold market.

VOV.VN - The price of 9999 gold rings surged beyond gold bars on March 5 morning, reaching a record high of over VND93 million/tael.