Vietnam PM orders action to stabilise gold market

Vietnamese Prime Minister has instructed the State Bank of Vietnam (SBV) to stabilise the gold market amid significant price fluctuations and a growing disparity between domestic and global rates, as reported by the Vietnam News Agency.

The Prime Minister was quoted by state-owned media as saying that the SBV has been assigned the responsibility of safeguarding the stability and safety of the country’s financial and monetary systems by managing gold price volatility.

On April 22, 2025, Vietnam experienced a record-breaking surge in gold prices as Saigon Jewelry Company (SJC) gold bars reached 122.5 million Vietnamese dong per tael, equivalent to around $4,721.

Attribution: Xinhua
Subediting: M. S. Salama