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  • Central Bank Urges Government To Keep Closer Eye On Gold Market

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    Tuan Nguyen Quang
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    The State Bank of Vietnam called on government ministries to more closely monitor the gold market due to concerns about speculation and smuggling. It wants them to examine transaction invoices for violations and restrict illegal activities. Additionally, the central bank said it is prepared to increase the supply of gold bullion to the market from the Saigon Jewelry Company, as there has been no new supply for a decade, causing prices to repeatedly surge.

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    State own bank in Viet Nam

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    Central bank urges government to keep closer eye on gold market

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    The State Bank of Vietnam called on government ministries to more closely monitor the gold market due to concerns about speculation and smuggling. It wants them to examine transaction invoices for violations and restrict illegal activities. Additionally, the central bank said it is prepared to increase the supply of gold bullion to the market from the Saigon Jewelry Company, as there has been no new supply for a decade, causing prices to repeatedly surge.

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    7 views2 pages

    Central Bank Urges Government To Keep Closer Eye On Gold Market

    Uploaded by

    Tuan Nguyen Quang
    The State Bank of Vietnam called on government ministries to more closely monitor the gold market due to concerns about speculation and smuggling. It wants them to examine transaction invoices for violations and restrict illegal activities. Additionally, the central bank said it is prepared to increase the supply of gold bullion to the market from the Saigon Jewelry Company, as there has been no new supply for a decade, causing prices to repeatedly surge.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    of 2

    Central bank urges government

    to keep closer eye on gold market


    By Quynh Trang January 20, 2024 | 03:31 pm PT

    Customers buy and sell gold at a jewelry shop in Ho Chi Minh City. Photo by
    VnExpress/Quynh Trang

    The State Bank of Vietnam is concerned about gold speculation and


    smuggling and wants the government to monitor the market.
    It has called on the Ministries of Industry and Trade, Public Security and
    Finance to look for violations in the trading of gold and gold bullion.

    It wants them to examine transaction invoices and prohibit illegal ones.


    The central bank said it is prepared to increase the supply of Saigon
    Jewelry Company gold to the market.

    Since 2012 only the central bank has been allowed to manufacture
    bullion. But there has been no new supply in the last decade, causing
    prices to repeatedly surge.
    Saigon Jewelry Company gold bar price went up 0.39% to VND76.75
    million ($2,126.84) per tael Friday morning.

    Gold ring price gained 0.24% to VND63.55 million per tael. A tael equals
    37.5 grams or 1.2 ounces.

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