The Government requires immediate implementation of solutions to stabilize the gold market.

The Government Office has just issued Document No. 3332/VPCP-KTTH dated April 18, 2025 conveying instructions on domestic gold price developments.

The price of SJC gold has increased to 14.6 million VND/tael higher than the world price . Photo: Hai Nguyen

Considering the Government Office's quick report on domestic gold price developments on April 18, 2025, the Government has the following directives:

The State Bank of Vietnam shall preside over and coordinate with relevant agencies to closely monitor the situation and developments in the domestic and international financial, monetary, foreign exchange, and gold markets to promptly and immediately implement solutions as prescribed to stabilize the gold market; further strengthen inspection, examination, and strictly handle violations as prescribed, and prevent profiteering, manipulation, price fixing, speculation, etc. in the gold market in accordance with the direction of the Government leaders in Official Dispatch No. 1483/VPCP-KTTH dated April 4, 2025; proactively and immediately implement information and communication measures to stabilize social psychology.

Updated on the afternoon of April 18, the price of gold increased rapidly, reaching 122.5 million VND/tael. Compared to the beginning of the morning session, by this afternoon, the price of SJC gold and gold rings continued to increase sharply, with the highest level reaching 3 million VND/tael.

This morning (April 18), the price of gold increased sharply by 2 million VND per tael as soon as it opened, despite the rapid decline in world gold prices. SJC gold bars soared to a peak of 120 million VND per tael, while gold rings rose to 117 million VND. At the current price of 3,329 USD per ounce, the converted world gold price is 105.4 million VND per tael. Thus, the difference between SJC gold price and world price is up to 14.6 million VND per tael. Experts recommend that buyers need to calculate carefully to control risks.

Nguyen Hanh

Source: https://congthuong.vn/chinh-phu-yeu-cau-thuc-hien-ngay-cac-giai-phap-on-dinh-thi-truong-vang-383738.html