Gold market inspection requested

Deputy Prime Minister Le Minh Khai has asked relevant ministries and sectors to jointly inspect the gold market and gold trading activities, the Government News has reported.

Chairing a meeting discussing measures on gold market management held on May 14 in Hanoi, Mr. Khai requested the ministries, sectors and localities to urgently take solutions to handle shortcomings of the gold market, ensuring the stable operation of the gold market and stabilizing the price of gold bars.

He demanded that an inspection decision must be announced no later than the end of this week.

Discussions at the meeting were focused on the global gold price trends, and domestic gold prices, especially on the price difference between the domestic and global markets  in order to identify short-term and long-term solutions for stabilizing the gold market.

The Depuuty Prime Minister stressed that the State Bank of Vietnam must take responsibility for stabilizing the market and ensuring the harmony of interests among stakeholders.

He also proposed strictly addressing legal violations, speculation, and manipulation in the gold market.

He underlined that synchronized solutions must been immediately taken for stabilizing the gold market, includng increasing supply and enhancing inspection, monitoring, and handling violations.