State Bank of Vietnam coordinates with ministries to stabilize domestic gold market amid record-high prices.

The State Bank of Vietnam is taking steps to stabilize the domestic gold market amid record-high gold ring prices, which recently surpassed 83 million dong ($3,378) per tael. The bank is coordinating with various ministries to inspect trading activities, enforce strict penalties for violations, and sell gold bars to state-owned banks for retail distribution. These measures aim to reduce the gap between domestic and global gold prices and ensure compliance with trading regulations.

September 30, 2024
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