The State Bank has just released a summary report on the implementation of Decree No. 24 of the Government on the management of gold trading activities.
The State Bank said that according to the provisions of the Law on Prices 2012 and 2023, gold bars are not included in the list of goods and services subject to price stabilization, the list of goods and services priced by the State. The buying and selling prices of SJC gold bars are actively listed by credit institutions and businesses trading in buying and selling gold bars based on market supply and demand.
Price listing is carried out in accordance with relevant laws and there are currently no regulations requiring businesses to list SJC gold at a specific price.
In conditions of limited supply, businesses often list high buying and selling prices. People decide for themselves whether to hold SJC gold or other gold brands, and decide to accept the risks and benefits of gold price fluctuations.
Notably, Decree 24 stipulates that the State Bank intervenes and stabilizes the gold market, and does not stipulate that the State Bank intervenes in the buying and selling prices of SJC gold bars of enterprises and credit institutions.
In addition, Clause 3, Article 16 of Decree 24 stipulates: “The State Bank shall intervene and stabilize the gold market through the following measures:
- Export and import of raw gold according to regulations in Clause 1, Article 14 of this Decree.
- Organize and manage the production of gold bars by deciding on the limit, production time and appropriate method of gold bar production in each period. The cost of organizing the production of gold bars is included in the operating expenses of the State Bank.
- Purchase and sell gold bars on the domestic market and organize gold mobilization according to regulations of the Prime Minister .
HA (according to Vietnamnet)Source: https://baohaiduong.vn/vi-sao-ngan-hang-nha-nuoc-khong-the-can-thiep-vao-gia-vang-cua-doanh-nghiep-414193.html
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