The State Bank of Vietnam (SBV) is working closely with ministries and local authorities to implement comprehensive strategies to address significant price disparities and stabilise the gold market.

VOV.VN - Prices of domestic gold rings continued their upward trajectory on September 27, reaching an all-time high of VND83.35 million per tael and being equal to the selling price of SJC gold bars for the first time.

VOV.VN - Gold ring prices hit all-time high in Vietnam on September 13, reaching VND79.2 million per tael.

VOV.VN - Gold prices in the domestic market bounced back on August 2, reaching nearly VND80 million per tael, up VND800,000 compared to the previous day, while gold prices fell slightly in the world market.

VOV.VN - After standing still for 45 consecutive days, the opening session on the morning of July 18 saw Saigon Jewelry Company (SJC) gold bar prices rebound, reaching VND80 million per tael.

The price of SJC-branded gold bars in the domestic market has remained stable despite the rising global gold price recorded over the past couple of weeks.

The narrowing of the gap between domestic and global gold prices may further pull down the selling price of SJC-branded gold bullion of state-owned commercial banks and Saigon Jewelry Company (SJC) in the near future, Dao Xuan Tuan, Director General of the State Bank of Vietnam (SBV)'s Foreign Exchange Management Department, has said.

SJC-branded gold bullion is sold at VND77.98 million (US$3,069) per tael on June 4 as approved by the Governor of the State Bank of Vietnam (SBV).

VOV.VN - Under the State Bank of Vietnam (SBV)’s new move to stabilize the gold market and narrow the gold price gap, people who wish to purchase SJC gold can go to any of the four major state-owned commercial banks to carry out transactions to buy gold, according to industry insiders.

The State Bank of Vietnam (SBV) has halted its gold bullion auctions and will introduce a new strategy to stabilise gold prices as early as June 3.