The government has issued a new decree on the management of gold trading activities, abolishing the state’s monopoly on the production of gold bars and the import and export of raw gold, shifting instead to a licensing regime.

Global gold prices on August 26 edged up as investors continued to expect the FED to cut interest rates, trading at 3,375.3 USD/ounce. In the domestic market, SJC gold bars and rings kept rising, listed at 127.7 million VND/tael and 122.2 million VND/tael, respectively.

On August 21, global gold prices reversed slightly after surpassing the threshold of 3,340 USD/ounce, trading at 3,339.1 USD/ounce. Domestically, SJC gold bars and gold rings simultaneously set new records, quoted at 125.4 million VND/tael and 119.8 million VND/tael respectively.

Global gold prices on August 13 rose to 3,355.8 USD per ounce amid mounting inflation. Domestically, the price of SJC gold bars increased slightly to 124 million VND per tael, SJC gold rings were traded at 119.3 million VND per tael.

Global gold prices on July 22 continued to remain at a high level amid a weakening USD and escalating trade tensions, trading at 3,389 USD/ounce. Domestically, SJC gold bar and gold ring prices jumped sharply by 500,000 VND per tael, listed at 122 million VND/tael and 117.5 million VND/tael, respectively.

SJC-branded gold bars and rings were traded at 121.5 million VND per tael and 117.5 million VND per tael on July 14.

Saigon Jewelry Company gold bar went down 0.33% to 120.9 million VND per tael, on July 4. Gold ring was steady at 116.8 million VND per tael.

Viet Nam gold prices fell slightly despite global gain on June 19. Saigon Jewelry Company gold bar dropped 0.17% to VND119.4 million per tael. Gold ring declined by 0.09% to VND116 million per tael.