Factors Driving Gold Price Fluctuations
On the morning of October 30th, during a session discussing socio-economic issues, Deputy Prime Minister Le Thanh Long addressed several concerns raised by National Assembly delegates.
Regarding the gold market, the Deputy Prime Minister highlighted that global gold prices have reached peaks of nearly $4,400 per ounce. Domestically, the price gap compared to international rates has fluctuated between 1 million and 20 million VND.
He attributed these price swings to geopolitical tensions, inconsistent economic and trade policies from major global economies, and the psychological factors influencing Vietnamese consumers.
Deputy Prime Minister Le Thanh Long. Photo: Nhu Y.
To address these challenges, Mr. Long stated that the Government and Prime Minister have mandated closer monitoring of the gold market. “The Prime Minister is resolute in inspecting the gold market. If the banking inspectorate cannot handle it, the Government Inspectorate will step in,” he emphasized.
Additionally, amendments to Decree 24 are underway to reduce the “gold monopoly.” Plans are also in place to establish a gold trading platform to enhance transaction transparency and control.
“Vietnam’s GDP for 2024 is approximately 12 quadrillion VND, while gold transactions in the first nine months of 2025 totaled 23.3 trillion VND,” the Deputy Prime Minister noted.
Soaring Property Prices: A Stark Reality
Addressing the surge in property prices and affordability issues, the Deputy Prime Minister acknowledged this as a pressing reality. The Government is actively implementing measures to tackle these challenges.
Firstly, revisions to real estate market regulations are underway. During this session, a resolution addressing urgent issues within the Land Law, including valuation matters, will be presented to the National Assembly.
Secondly, the Government is accelerating the construction of 1 million social housing units. To date, 165 projects have been completed, providing 117,000 homes. Including ongoing and approved projects through 2025, 60% of the program’s target has been achieved.
Regarding public investment disbursement, Mr. Long cited the Ministry of Finance’s report indicating a 51.7% disbursement rate as of October 23rd, surpassing last year’s 51.5%. In absolute terms, 465 trillion VND has been disbursed, an increase of 116 trillion VND year-on-year.
The Deputy Prime Minister agreed with delegates that public investment disbursement remains “below expectations,” despite various measures taken.
He identified several causes: consolidating projects into larger packages has delayed progress and procedures; institutional reforms have a lag effect; and organizational restructuring has impacted project handovers.
The Deputy Prime Minister urged localities to accelerate public investment disbursement, aiming to exhaust this year’s allocated funds.
How Does the Deputy Prime Minister Explain to the National Assembly the Slow Disbursement of Public Investment Despite Continuous Meetings with Ministries, Sectors, and Localities?
This morning, on behalf of the Government, Deputy Prime Minister Lê Thành Long addressed the National Assembly, providing clarifications on key issues raised by delegates. He highlighted the Government’s concerted efforts to enhance transparency in the gold market, prevent monopolies, and regulate the real estate market to address soaring property prices.
Affordable Housing: Testing the Restructuring Capabilities of Real Estate Enterprises
After the first nine months of the year, the supply of affordable and mid-range housing remains scarce, while property prices in major cities continue to soar. In response, the proposed development of reasonably priced commercial housing is anticipated to diversify the market, balance supply and demand, and stabilize prices. However, for this policy to be effective, experts emphasize the need to refine legal frameworks, offer investment incentives, and ensure viable profit margins for developers.
VinaCapital Forecasts Vietnam’s Economy to Surge 8% in 2026, Fueled by Public Investment Momentum
Anticipated economic growth of 8% positions 2026 as the “golden moment” to experience the ripple effects of public investment disbursement, with infrastructure investment projected to surge by 30-40%.
Hanoi Proposes Up to 26% Land Price Hike: Will Property Values Surge Further?
Amidst efforts to control soaring property prices, several localities are proposing significant increases in land price tables, sparking widespread concern. Experts warn that such moves could place additional financial strain on both homebuyers and businesses.
“Households Earning Under $8,700 Annually Require Over 35 Years of Savings to Afford a Home”
According to calculations by One Mount Group, a middle-income household (earning less than 200 million VND annually) has virtually no access to commercial housing, requiring over 35 years of savings to afford it.
