The State Bank of Vietnam (SBV) in a draft decision on gold bar trading suggests a possibility of intervening in the gold market by transacting with gold trading organizations. The agency would decide to trade gold in either direct transaction or through auctions. The SBV governor would decide on buying and selling prices of gold bars on the domestic market. The central bank may also open overseas... 

With the current gold management policy, the domestic gold prices prove to be unpredictable. Removing the quota scheme, allowing gold trade on account is the solution proposed by experts. Gold price on the rise, money flows to gold market, again Though the gold prices still have been fluctuating, experts have been sure about the upward tendency. Nguyen Thanh Truc, Deputy Chair of the Gold Business... 

Gold trading floors have been banned in Vietnam for the last two years. However, the trading floors have never been shut down as ordered by the State Bank. If typing “san giao dich vang truc tuyen” (online gold trading floors) on Google, one would find the information and addresses of tens of online gold trading floors. In order to become the member of the trading floor, one would have to pay... 

Saigon Jewelry Company (SJC) is seeking approval from the State Bank of Vietnam (SBV) to reprocess deformed gold bars for the benefits of local consumers, said an executive of the company. According to an SJC executive, with the new decree on gold trading control starting from May 25, all gold bar processing activities of SJC need to be approved by SBV. And SJC has stopped repurchasing deformed gold... 

The State Bank of Vietnam issued last Friday a circular to guide implementation of Decree 24/2012 on managing gold trading. According to the decree, effective from May 25, the central bank will issue bullion trading licences to businesses that meet the following conditions: have a charter capital of at least VND100 billion (US$4.8 million), paid tax of VND500 million ($24,000) in each of the last... 

Decree 24/2012/ND-CP on gold business management will come into force from May 25 and National Financial and Monetary Policy Council member Cao Si Kiem said current bottlenecks needed to be tackled if the market was to prosper. How will the market react to the decree? If current bottlenecks in the bullion market are not removed this could give room for gold traders to dodge the law. The first bottleneck... 

Private gold traders and large firms have witnessed their businesses going down the tubes due to the new decree on gold trading control starting from May 25. Private gold traders suffering tough times According to Decree 24/2012/ND-CP signed by the Prime Minister, just a few enterprises will be eligible for gold bar trading with business certificates granted by the central bank. Gold firms are... 

The general gist emanating from Decree 24/2012 ND-CP signed into effect by the Government last Tuesday, April 3, is that gold trading management will be handled the same way as foreign exchange management has been. Individual and corporate ownership of gold is protected by law, and from now on, the agency accountable for gold market management will be the State Bank of Vietnam. Vietnam is arguably... 

The State Bank of Vietnam (SBV) has completed a draft circular permitting gold bar traders to switch business for another six months after Decree 24/2012/ND-CP on gold bar trading restrictions takes effect on May 25. So now gold firms have more than seven months to go after Decree 24 came out early this month. In the meantime, they have to finalize the procedures for obtaining gold bar trading certificates... 

Under the new decree on gold management released on April 3, 2012, the State has the exclusive right to produce bullion gold, export gold materials and import gold materials for making bullion gold. New decree worries private traders “Now I still can earn some money every day from selling bullion gold. People nowadays only buy gold to hoard up as their assets. Meanwhile, as the gold prices are overly...