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The gold price in Vietnam is more often than not much higher than in the rest of the world. In fact, in 2023, at its peak, it was around 20 percent higher owing to a number of factors including the limited supply, huge demand, and a regulatory environment that often struggles to balance the two. With this in mind, media coverage of the gold price in Vietnam is extensive. This section monitors said coverage.
See also: The Gold Price in Vietnam: Explained 2024
This latest development is a vast improvement with a series of past gold auctions selling only a few thousand gold bars or being cancelled altogether due to lack of interest. The change of circumstances is likely due to changes to this gold auction that saw the minimum order significantly reduced.
The State Bank of Vietnam is still trying to auction off gold to bring down the gold price, despite several failed auctions amid an overheated gold market. This latest gold auction has 16,800 taels of gold up for grabs in lots of 500 taels down from 700 in past auctions,
Vietnam’s gold price topped VND 91.5 million a tael or 2,958.50 per troy ounce yesterday, a new peak for the yellow metal. At the same time, gold was trading on the world market for US$2,353 per troy ounce, a difference of US$605.50 or about 20.47 percent. To try to close
Vietnam has held its second successful gold auction this year, however, the State Bank of Vietnam–theSBV–only managed to sell 3,400 SJC gold bars, Tuoi Tre is reporting. Of note, multiple gold auctions have been announced in the last few weeks but have been cancelled due to a lack of interest.
A gold auction of State Bank of Vietnam–SBV–gold reserves slated for Monday was cancelled and a gold auction that went ahead Tuesday had just two bidders, as a result of floor prices that were too high, VN Express is reporting. It also says that the minimum volume, of 1,400 taels
In an odd turn of events, a gold auction slated for yesterday was cancelled due to a lack of interest and a second, today, had just two bidders that bought a collective 3,400 taels of gold of the 16,400 on offer, VN Express is reporting. This is after gold auctions
In its first gold auction since 2013 the State Bank of Vietnam is set to make available about 630 kilograms of gold for banks and financial firms to bid on, VN Express is reporting. The online publication is also saying that the SBV intends to import more gold to fill
There is this emerging argument that the pressure on the exchange rate is partly caused by gold smuggling, for example, this article from Doanh Nhan Vietnam. The theory is that people are buying up US dollars to buy gold overseas and then smuggling it in. That may be the case,
It was reported earlier this week that the State Bank of Vietnam–the SBV–intends to reinstate gold auctions, however, local media did not report where the gold was set to come from. Today VN Express reported that the SBV has asked the Ministry of Finance to smooth-out the process for importing
A number of gold stores in Ho Chi Minh City have announced long holiday closures just after it was announced that the HCMC General Department of Market Management would be auditing the operations of gold stores in the city, Tuoi Tre is reporting. The publication says the city intends to
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