HANOI, May 14 (Xinhua) -- Vietnamese Prime Minister Pham Minh Chinh has directed the State Bank of Vietnam (SBV) to take measures to stabilize the gold market, following sharp fluctuations in domestic gold prices and a widening gap between domestic and global rates, the Vietnam News Agency reported Wednesday.
The SBV has been tasked with ensuring that gold price volatility does not undermine the stability and safety of the country's financial and monetary systems, the state owned media quoted Chinh as saying.
Vietnam's gold prices hit a historic high on April 22, 2025, when Saigon Jewelry Company (SJC) gold bars surged to 122.5 million Vietnamese dong per tael (approximately 4,721 U.S. dollars).
On Wednesday, SJC gold bar prices were listed at around 118 million Vietnamese dong (4,548 dollars) for sellers and 120 million Vietnamese dong (4,625 dollars) for buyers. ■
