The State Bank requests the Ministry of Public Security, Market Management... to coordinate in managing the gold market.

01/19/2024 14:36 Nhat Linh Print article

ANTD.VN - The State Bank has requested the Ministry of Public Security, the Ministry of Finance, and the Market Management force to jointly manage the gold market in the face of the recent large fluctuations in the price of SJC gold.

Faced with the strong fluctuations in the price of SJC gold bars, the State Bank has issued a document requesting relevant ministries and branches to coordinate in managing the gold market.

In particular, in a recent document sent to the General Department of Market Management (Ministry of Industry and Trade), the State Bank requested this agency to strengthen inspection, examination, market supervision, detection, handling and coordination in providing information on violations in gold trading, especially in the buying and selling of raw gold and gold bars.

Giá vàng SJC biến động mạnh thời gian qua

SJC gold price fluctuates strongly recently

The State Bank also issued a document requesting the Ministry of Public Security to coordinate in limiting the situation where some businesses take advantage of high gold prices to speculate, profit, and smuggle gold across the border, causing market disruption.

“The State Bank requests the Ministry of Public Security to continue to coordinate with the State Bank and relevant ministries and branches in combating, investigating and handling violations of the law on gold trading within the scope of functions, tasks and powers assigned in Decree 24,” the State Bank's document emphasized.

At the same time, in the document sent to the Ministry of Finance, this agency also requested the Ministry of Finance to strengthen guidance, inspection and supervision of compliance with regulations on the issuance and use of invoices and documents in gold buying and selling business activities.

Especially invoices and documents in the purchase and sale of raw gold and gold bars, and strictly handle acts of issuing and using illegal invoices.

The State Bank also said that recently, international gold prices have fluctuated sharply due to the impact of complicated geopolitical and diplomatic tensions in the world, the world economy is slowly recovering, and the US Federal Reserve's move to prepare to change the USD interest rate policy has caused the demand for investment in gold to increase.

Domestically, the price of SJC gold bars increased sharply due to the influence of the increase in international gold prices and people's psychology when seeing the continuous increase in international gold prices.

Faced with new developments in the gold market, the State Bank has actively implemented solutions according to regulations to stabilize the gold market, proactively developing scenarios and plans to respond to fluctuations in world and domestic gold prices to prepare handling measures.

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