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.

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 - Gold prices in the Vietnamese market saw a decline on the morning of April 8, slipping below VND100 million per tael in line with the global downward trend.

The March consumer price index (CPI) in Hanoi rose by 0.08% from the previous month and 2.69% year-on-year, statistics show.

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.

VOV.VN - Domestic gold ring prices surged in line with global trends, breaking previous records to reach VND100 million per tael as of 11 a.m. on March 19.

VOV.VN - Gold prices in Vietnam soared to new historic peaks on the morning of March 18, tracking a sharp uptrend in global markets.