(NLDO) – Gold prices continuously hit new peaks, affecting the effectiveness of state management and people's lives. Voters proposed measures to manage gold prices...
Voters in An Giang province reported that gold prices have been fluctuating continuously, mainly increasing, affecting the effectiveness of state management of the gold market as well as people's lives. Propose appropriate measures to manage gold prices.
The State Bank has just issued a written response to this proposal. Accordingly, currently, domestic gold consumption is mainly from imported sources. Therefore, domestic gold prices depend on the movements of world gold prices. Recently, world gold prices have been constantly fluctuating, mainly in an upward trend, due to escalating geopolitical, trade, and armed conflicts in many countries around the world, causing the demand for physical gold consumption in some countries and the gold reserves of many central banks to increase sharply...
Domestic gold prices have increased continuously in recent times.
"Gold prices have been increasing all over the world, not just in Vietnam, and since the State Bank intervened to sell gold directly, the world gold price has increased faster than the domestic gold bar price. According to the 2012 Price Law and the 2023 revised Price Law, gold is not an essential commodity and is not included in the list of goods and services subject to price stabilization" - the State Bank informed.
Currently, the buying and selling prices of gold are actively listed by credit institutions and businesses that buy and sell gold bars. In practice around the world, central banks do not control gold prices, but gold prices are determined by market supply and demand. Therefore, the State Bank affirms that it only intervenes to stabilize the gold market, not to interfere with domestic gold prices.
Regarding gold prices, at noon on February 15, SJC gold bars were bought at VND87.3 million/tael by listed companies and sold at VND90.3 million/tael, down VND1 million/tael compared to the end of yesterday.
Similarly, the price of 24K gold rings and jewelry gold of all kinds also decreased when listed by businesses at 87.3 million VND/tael for buying and 90.1 million VND/tael for selling, down 1 million VND per tael compared to the end of yesterday.
Domestic gold prices have fallen sharply following the downward trend of the world. In the international market, the gold price today closed the trading week at 2,883 USD/ounce, down more than 50 USD/ounce compared to the previous session. The world gold price currently converted according to the listed exchange rate is about 88.9 million VND/tael.
Source: https://nld.com.vn/vi-sao-ngan-hang-nha-nuoc-khong-quan-ly-gia-vang-196250215115218215.htm
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