The State Bank of Vietnam (SBV) has just released a summary report on the implementation of Decree No. 24 of the Government on the management of gold trading activities.

Assessing the results of recent interventions and stabilization of the gold market, the agency said that with the synchronous solutions of the State Bank and the effective coordination of ministries and branches, up to now, the difference between the domestic SJC gold bar price and the world gold price has been controlled within a suitable range.

By the end of 2024, the difference between domestic SJC gold bar prices and world gold prices has narrowed to only about 3-5 million VND/tael.

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Since the beginning of April, the difference between domestic SJC gold bar prices and world gold prices has tended to increase. Photo: Nguyen Hue

In the first 3 months of 2025, this difference has decreased to just over 1 million VND/tael. At many times, the purchase price of SJC gold bars was even lower than the converted international gold price.

However, since the beginning of April, the difference between domestic SJC gold bar prices and world gold prices has tended to increase due to many reasons such as: the impact of the US President's tariff policy and tense world political conflicts.

Notably, it is possible that some businesses and individuals are taking advantage of market fluctuations to speculate, inflate prices, and profiteer, etc.

The State Bank of Vietnam acknowledges that although the market is experiencing strong fluctuations and the gap between domestic and world gold prices is increasing, these fluctuations have not yet affected the management of monetary policy and macroeconomic stability.

The agency said it will continue to closely monitor developments in the domestic and international gold market, coordinate with relevant agencies to strengthen management and take measures to stabilize the gold market under its authority when necessary.

Gold price today June 17, 2025: Unexpectedly plummeting, where will SJC gold and plain rings go? Gold price today June 17, 2025 slightly decreased at the beginning of the trading session in the US in the context of the New York manufacturing index falling deeper than expected, putting pressure on the economic outlook. Domestic SJC gold price yesterday decreased by 700,000 VND/tael.
Why can’t the State Bank intervene in the gold prices of businesses? Decree 24 stipulates that the State Bank (SBV) intervenes and stabilizes the gold market, but does not intervene in the buying and selling prices of SJC gold bars of businesses and credit institutions.

Source: https://vietnamnet.vn/ngan-hang-nha-nuoc-neu-ly-do-chenh-lech-gia-vang-mieng-sjc-tang-cao-2411799.html