Ms. Tran Thi Ngoc Lien, Deputy Director of the State Bank of Vietnam’s Branch No.2, stated that recently, domestic and international gold prices have been highly volatile, continuously surging and consecutively setting new records. In response, the State Bank has directed enhanced management of the gold market, eliminating non-market factors to ensure the effectiveness of measures to stabilize the market.
Specifically, citizens are only permitted to buy and sell SJC gold bars from authorized credit institutions and enterprises licensed by the State Bank for trading gold bars. Enterprises engaged in the business of gold jewelry and ornaments but lacking a license for gold bar trading are prohibited from conducting gold bar transactions. Trading gold bars with unlicensed entities is a violation of Decree 24/2012/ND-CP (amended and supplemented by Decree 232/2025/ND-CP, effective from October 10, 2025) and may be subject to penalties under Decree 88/2019/ND-CP.
People buying gold at SJC Company
Enterprises in the field of manufacturing and trading gold jewelry, ornaments, and gold bars must strictly adhere to regulations regarding operating licenses, certifications of eligibility for production, product origin, invoices and receipts, public display of prices, and product quality. Conducting business with transparency and in compliance with the law will not only help enterprises mitigate risks but also prevent commercial fraud, counterfeiting, smuggling, and tax evasion.
Notably, as gold is a highly volatile financial asset closely tied to market factors, citizens should exercise caution when trading or investing in gold to mitigate risks. Moreover, adherence to legal regulations by both enterprises and citizens will significantly contribute to market stability, curbing speculation and price manipulation that could unnecessarily impact social psychology and the economy.
State Bank’s Branch No.2 recommends that enterprises and citizens comply with legal regulations when trading gold.
State Bank’s Branch No.2 affirmed that a coordinated approach to information, propaganda, and compliance with the law will help stabilize and ensure transparency in the gold market, thereby protecting the legitimate interests of citizens and enterprises.
On September 8, Sai Gon Jewelry Company (SJC) listed the SJC gold bar price at VND 133.1 million per tael for buyers and VND 135.1 million per tael for sellers, a decrease of VND 300,000 compared to the previous week. The prices of 99.99% gold rings and jewelry were maintained at VND 127.7 – 130.2 million per tael. In the free market, the decline was much sharper. Some shops in Ho Chi Minh City listed prices at VND 135.5 million per tael for buyers and VND 138.5 million per tael for sellers, a drop of VND 5 million within just one day.
This downward trend followed the Prime Minister’s direct instruction in Official Dispatch No. 159 dated September 7, 2023, on fiscal and monetary policy management. The State Bank was instructed to closely monitor gold price fluctuations and promptly implement stabilization measures, while also narrowing the gap between international and domestic gold prices, which had exceeded VND 20 million per tael.
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