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Tag: gold

What’s left in the State Bank of Vietnam’s gold reserves?

The State Bank has said it will continue to sell gold bars from its gold reserves in order to ‘stabilise’ the gold market. Between June 3 to October 29, the central bank sold 305,600 taels of gold or about 11.46 tons of gold into the market from its reserves.  At today’s gold price, US$84,880.7 a kilogram, those 11.46 tons would be worth US$972.7 million…

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Vietnam domestic gold prices fall despite reports of shortages

This scenario is not particularly new with challenges in the gold market ongoing since the beginning of the year. That said, it is worth keeping an eye on in that currently the gold supply is being fed by the State Bank from its reserves. These are, however, limited and will either need to be replenished or will run out, either way there will likely be significant ramifications for Vietnam’s economy….

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Unofficial online gold markets emerge in Vietnam on back of official-supply issues

The Vietnamese gold price has been out of sync with the world gold price for some time now, at points up to 20 percent higher. This led to the State Bank selling gold from its reserves at a fixed price to try and bring the price down. However, it looks a lot like it is only releasing a limited supply that is insufficient to meet demand, ergo consumers are turning to other sales channels…

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The Gold Price in Vietnam: Explained 2024

The gold price in Vietnam is more often than not much higher than it is 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

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