Gold market management was among the socio-economic issues discussed by the NA Standing Committee at its ongoing 33rd session that opened earlier the same day.

Permanent Vice Chairman of the NA Tran Thanh Man (standing) speaks at the 33rd session of the NA Standing Committee on May 13. (Photo: VNA)

Members of the committee held that there remain many problems in gold market management, and Le Thi Nga, Chairwoman of the NA’s Committee for Judicial Affairs, said the gap between domestic and global prices is too wide, adding they have never been so high.

She pointed out that the Government and its leaders have ordered the banking sector to take measures for managing the market while the State Bank of Vietnam (SBV) has also held several gold auctions, but prices are still shooting up. Therefore, strict management of and State intervention in this market are required.

Domestic gold prices have surged, even topping 90 million VND (over 3,500 USD) per tael. (Photo: tapchicongthuong.vn)

For her part, Nguyen Thi Thanh, head of the NA Standing Committee’s board for deputies’ affairs, said it is necessary to thoroughly analyse the situation and devise solutions to such problems as private investment staying low but the money flow into gold rising.

Gold market management was among the socio-economic issues discussed by the NA Standing Committee at its ongoing 33rd session that opened earlier the same day.

Members of the committee held that there remain many problems in gold market management, and Le Thi Nga, Chairwoman of the NA’s Committee for Judicial Affairs, said the gap between domestic and global prices is too wide, adding they have never been so high.

She pointed out that the Government and its leaders have ordered the banking sector to take measures for managing the market while the State Bank of Vietnam (SBV) has also held several gold auctions, but prices are still shooting up. Therefore, strict management of and State intervention in this market are required.

For her part, Nguyen Thi Thanh, head of the NA Standing Committee’s board for deputies’ affairs, said it is necessary to thoroughly analyse the situation and devise solutions to such problems as private investment staying low but the money flow into gold rising.