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.

VOV.VN - Eleven bidders successfully bought a total of 13,400 taels of SJC-branded gold bullion that the State Bank of Vietnam (SBV) had put up to auction on May 23.

Deputy Prime Minister Le Minh Khai requested relevant ministries and sectors assign officials to join a delegation for inspecting the gold market and gold trading activities, during a meeting discussing gold market management measures on May 14 in Hanoi.

The State Bank of Vietnam (SBV) has announced the fifth auction of SJC gold bullions on May 14, with bidding condition changes compared to the latest session.

Permanent Vice Chairman of the National Assembly (NA) Tran Thanh Man on May 13 voiced concern over skyrocketing gold prices, asking the Government to quickly review market management measures to narrow the wide gap between domestic and global prices.

Gold prices fell last weekend after remaining high for a week, and experts attributed the fall to the Government’s instruction on conducting a specialised inspection of the market.

VOV.VN - The price of gold bars rose sharply in Vietnam on May 10 morning, hitting a new all-time high of VND91.80 million per tael without signs of stopping in the near future.

VOV.VN - At 9:30 a.m. on May 7, the price of gold bars by Saigon Jewelry Company hit a new all-time high of VND84.8 million per tael for buying and VND87 million per tael for selling, up VND500,00 per tael compared to the previous day.

Gold prices reached a historic peak last week after consecutive auction sessions held by the State Bank of Vietnam (SBV) were met with lukewarm enthusiasm.

VOV.VN - The price of domestic gold bars on April 26 continued its upward trajectory, climbing to a historic peak of over VND85 million per tael to surpass all previous records.