The State Bank of Vietnam (SBV) will increase the supply of gold bullion to handle the existing huge difference in domestic and world gold prices, SBV Deputy Governor Pham Thanh Ha told the press on April 12.

VOV.VN - Gold prices in the domestic market maintained an upward trend on April 12, with gold bars reaching a new high of VND85 million per tael, and gold rings setting new record of VND78.20 million per tael.

VOV.VN - The prices of domestic gold rings increased on the morning of April 4 to a new record at VND72.4 million per tael, after global prices hit an all-time high of 2,300.7 per ounce.

The price of SJC gold bars rose to nearly VND81 million (US$3,266) per tael (one tael is equivalent to 1.33 ounces) in the last trading session of the first quarter (March 30), up 8% from the outset of the quarter.

VOV.VN - Vietnam consumed nearly 55.5 tonnes of gold jewelry in 2023, down 6% compared to the previous year, according to the World Gold Council (WGC).

The State Bank of Vietnam (SBV) has issued a new regulation on management of gold bar production to stabilise the gold market.

The State does not encourage the trading of gold bars, protect their prices, nor accept too large differences between domestic and global gold prices, and between SJC and other types of gold bars, said Deputy Governor of the State Bank of Vietnam (SBV) Dao Minh Tu.

VOV.VN - Along with gold, various trending products have been put on sale to take advantage of increasing demand on the God of Wealth Day, which falls on the 10th day of the Lunar New Year, or January 31 this year.

VOV.VN - Local consumption demand for gold during the third quarter of the year reached 12 tonnes, marking an increase of 264% compared to the same period from last year, according to the latest report from the World Gold Council (WGC).

VOV.VN - The domestic gold market has gone wild during the past few days, with gold bar prices nosediving to VND67 million/tael after reaching all-time high of VND74 million within days.