HCMC – Local gold prices have fallen sharply after Deputy Prime Minister Ho Duc Phoc called for intensified inspections and strict enforcement to curb profiteering and market manipulation in the gold sector.
At 9:15 a.m. today, April 19, Saigon Jewelry Company (SJC) and Bao Tin Minh Chau listed SJC-branded gold bars at VND113.5 million per tael for buying and VND117.5 million for selling, down VND3.5 million and VND2.5 million from the previous day’s close, respectively.
DOJI Group quoted gold bars at VND115 million for buying and VND118.5 million for selling, a respective decrease of VND2 million and VND1.5 million.
Phu Quy Jewelry listed gold bars at VND113 million for buying and VND117.5 million for selling, down VND3 million and VND1.5 million, respectively. The company also announced a temporary stockout.
Earlier, the Deputy PM tasked the State Bank of Vietnam (SBV) with closely monitoring developments in the domestic and international financial, monetary, foreign exchange, and gold markets. He called for the immediate implementation of regulatory measures to stabilize the gold market.
As part of the directive, relevant agencies were instructed to strengthen inspections and strictly handle violations in accordance with regulations, particularly targeting profiteering, manipulation, price rigging, and speculation. The move aligns with the Government’s instructions outlined in Document No. 1483 dated April 4.
