Gold Price and Market Reform: Vietnam’s Gold Market Enters New Era of Openness and Oversight
Vietnam’s gold market now sees a change in rules. The market changes work to show more details in operations, watch the work more closely, and open up world trading in gold. The rules start on October 10, 2025. This shift marks the biggest change in over ten years in gold deals.
End of State Monopoly on Gold Bullion Operations
With Decree No. 232/2025/NĐ-CP, the State stops its full control of gold bullion. Banks and companies that meet set rules now run refining, storing, and trading in gold. They work with gold in a digital way and manage the physical gold too. To join, companies need a charter capital of at least VNĐ1 trillion (around US$38 million) and a valid gold trading certificate. Banks need a charter capital of VNĐ50 trillion and must follow SBV rules.
This rule change may:
• Mix gold sources.
• Bring the gold price closer to the world price.
• Cut false moves in the gold trade.
Banks like Techcombank plan to bring more professional methods to gold deals and shift to digital trading channels.
Mandatory Electronic Payments for High-Value Gold Transactions
The rules now require bank transfers when gold deals pass VNĐ20 million (around US$760) a day. This rule works for both small buyers and gold traders. The plan is to:
• Cut the use of cash in trades.
• Tighten checks on money moves.
• Track daily gold trading with care.
Big gold firms such as DOJI, PNJ, and Bảo Tín Minh Châu now update transaction systems. Dealers also upgrade software to track daily totals.
Impact on Gold Price and Market Dynamics
Even with new rules, gold in Vietnam still costs more than the world spot price. The latest numbers show:
• SJC gold bars cost VNĐ140.8–142.8 million per tael for sellers and buyers.
• The world spot price is $4,016.4 per ounce or about VNĐ126.4 million per tael.
• The gap is more than VNĐ16 million per tael.
The new rules try to cut the gap. Their aim is to improve trade flow and stop bulk hoarding in small gold sales.
Challenges and Future for Gold Investing in Vietnam
Though the changes add hope for the future, some issues still appear:
• Delays in getting licenses and uneven rule checks may cause doubt.
• Some retail buyers stick with cash, mainly in rural areas with few digital tools.
• Small gold shops face higher costs to meet the rules compared with banks and big dealers.
Rule makers say that quick checks and fair rule use are key to reach set aims.
Summary
Vietnam now ends the State hold on gold bullion. Banks and companies can now work in gold refining, storing, and trading. The rules now require bank payments for gold deals over a set amount. The changes set to help bring local gold prices near those in global trade.
Gold investing in Vietnam steps into a new era. The success of these rules depends on strong rule use and quick checks.
Keywords: gold price, gold market, gold investing, gold bullion, gold news
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📝 About This Article
This article was generated by Hivebox AI in collaboration with nGRND.
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