Wednesday, May 29, 2024 5:46:35 AM - Markets open
VN-INDEX 1,281.73 +14.05/+1.11%
HNX-INDEX 245.58 +2.75/+1.13%
UPCOM-INDEX 95.62 +0.75/+0.79%
PM Chính requires strengthened gold market management
Vietnam News - 4/12/2024 3:54:11 PM
 (0 ratings. You must sign in to rate.)
Prime Minister Phạm Minh Chính has asked the State Bank of Vietnam (SBV) to keep a close watch on international and domestic gold prices, and put in place measures and tools in a timely and effective way to regulate the gold market in line with regulations.
 
The move is to ensure that the market operates in a stable, healthy, transparent, and efficient manner, and prevent the "goldisation" phenomenon in the national economy, the leader said while chairing a recent meeting on solutions to manage the gold market in the coming time, the Government Office said in a notice.
 
Chính emphasised the need to put the interests of the nation and its people above all in market management; and to encourage the production and export of jewelry gold products to create jobs for labourers.
 
He urged the implementation of measures and tools to manage and regulate the supply for both gold bullion and gold jewelry production, in order to ensure that market activities and transactions are managed and controlled tightly without affecting the exchange rate or foreign exchange reserves, and to prevent speculation, manipulation, or price hikes.
 
The PM also underlined the need to speed up the IT application and digital transformation in the management work, noting the compulsory issuing of e-invoices for gold transactions isto improve transparency.
 
The SBV, the Ministry of Public Security, the Ministry of Industry and Trade, the Government Inspectorate, and other relevant agencies were asked to continue to seriously perform their tasks of monitoring, inspecting, supervising, and dealing with law violations such as cross-border gold smuggling, profiteering, speculation, manipulation, and taking advantage of policy loopholes to hoard gold and drive up prices, causing instability and jeopardising the safety of the gold market. — VNS
 
Read original article here
Newer News
27/05 Experts predict deposit interest rates to rise 1 percentage point in H2
22/05 Finance ministry works with S&P on sovereign credit rating
13/05 Central bank's bid to stabilise gold market hits snag
08/05 Proposal of compulsory non-cash payment for gold transactions controversy
08/05 Three bidders win gold auction at high price
06/05 Bank deposits decline for first time in over two years
06/05 SJC gold price hits all-time high
24/04 Two bidders win the first gold auction this year
24/04 HCM City seeks to draw remittances in infrastructure
24/04 HCM City could issue bonds for overseas Vietnamese to fund infrastructure: conference
Older News
10/04 SJC gold price turns down, gold ring conquers new mark
05/04 Central bank reassures customer rights following $13.5m deposit loss
05/04 Việt Nam participates in ASEAN meetings, boosts financial and monetary cooperation
05/04 HDB: HDBank to pay 25% dividend in cash, stocks, aim for high growth in 2024
03/04 15 VN banks listed in Brand Finance Banking 500 2024 ranking
03/04 Bank credit increases again in March
03/04 Bank shareholders to receive high dividends, stock bonuses
28/03 Deposit interest rates to remain low until mid-2024: analysts
20/03 Central bank required to take urgent measures to stabilise gold market
20/03 Banks given advantages to CASA ratio
 
Newsletter Signup
Top Stories
VN adds over 110,000 new securities accounts in April, bringing total to 7.7 million
Cautious rise amid low supply and cash flow, investors advised to monitor resistance area
Interest rates to rise but not have major impact on stock market: economist
Businesses concerned about rising exchange rate pressure
Gold bar auction to be resumed after 11 years of suspension
Market Update
Last updated at 3:05:02 PM
VN-INDEX 1,281.73 +14.05/+1.11%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Portfolio
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.