.jpg "Dealing with commercial fraud in the digital age")
-a9f705f0fc2bb442b889e7ca8cfb4e9f.jpg "See detailed retirement age table")
.png "Roll call of 84 provincial cities when district level is abolished")
.jpg "Harm others, blame yourself for giving the car to a child")
.jpg "Special cooperative")
.jpg "Baidu Releases AI Model Competing with DeepSeek for Free")
.jpg "French President strongly declares sending troops to Ukraine")
.png "Vietnam faces 'not rich yet old'")
.jpg "How long do you have to work at a company to get pregnant?")
.jpg "Health sector completes measles vaccination campaign in March")
Submit a comment
Each tael of gold bars and plain rings this morning decreased by 1 million VND, to the lowest level in the past month.
On the morning of December 19, Saigon Jewelry Company (SJC) listed the price of gold bars at 82.1 - 84.1 million VND, down 1 million VND for both buying and selling compared to yesterday. The price of gold bars sold on the market at state-owned banks also dropped to 84.1 million.
Similarly, plain rings decreased by nearly a million VND per tael this morning. SJC listed plain rings at 82.1 - 83.8 million, down 900,000 VND for buying and 700,000 VND for selling compared to yesterday. DOJI listed plain rings at around 82.9 - 83.9 million VND. Meanwhile, at PNJ, the price of plain rings is 82.6 - 83.8 million VND per tael.
On the international market, each ounce of gold fell more than 65 USD to 2,585 USD per ounce. Currently, the world gold price is around 2,610 USD per ounce, converted according to Vietcombank's selling rate, equivalent to 80.3 million VND per tael. The market has been moving sideways since the beginning of the week, but suddenly decreased when the US Federal Reserve (Fed) signaled a slowdown in monetary easing next year.
Meanwhile, in the foreign exchange market, the domestic USD price increased slightly. In the official market, Vietcombank listed the exchange rate at 25,189 - 25,519 VND, up 28 VND compared to yesterday. Foreign exchange points on the black market bought and sold at 25,560 - 25,750 VND.
In recent times, people have had difficulty buying gold bars and plain rings from major brands. Businesses are often in short supply, except for a few recent times when many people tend to take profits, making the supply and demand in the market more balanced.
Propose appropriate policies to stabilize the gold market
At the question-and-answer session before the National Assembly on the morning of November 11, State Bank Governor Nguyen Thi Hong stated that the recent fluctuations in Vietnam's gold market are also a common trend in other countries around the world. From 2014 to 2019, the Vietnamese gold market was relatively stable and people's demand for gold decreased. However, from 2021, world gold prices increased, and accordingly, domestic gold prices also increased. However, from 2021 to June 2024, the State Bank has not intervened.
Since June 2024, the world gold price has reached a peak, the gap between the world and domestic gold prices has increased. Therefore, the Government and the State Bank have directed strongly. Based on current laws, the State Bank has organized an auction. In the context of the gold price reaching a peak and the market's expectations are also very high, the State Bank has considered 9 auctions, this is a quite effective solution.
In order to quickly narrow the gap between domestic and international gold prices at a high level under the Government's drastic direction, the State Bank has switched to selling SJC gold directly through 4 State-owned commercial banks. Therefore, the gap between domestic and international gold prices has decreased from about 15-18 million VND/tael to only about 3-4 million VND/tael.
Pointing out that gold prices continue to be complicated and unpredictable, Governor Nguyen Thi Hong said that our country does not produce gold, so intervention depends entirely on international gold imports. Therefore, the State Bank will closely monitor market developments to come up with appropriate policies to stabilize the gold market.
The State Bank also said it will continue to implement a roadmap to narrow and control the difference between the domestic selling price of SJC gold bars and the world price at an appropriate level.
.jpg "The Standing Committee of the National Assembly Party Committee gave opinions on some contents on the arrangement and streamlining of the apparatus.")
