The Vietnam Competition Commission has fined SJC, Bao Tin Minh Chau, and Doji for providing misleading product information to attract customers from other businesses.
Xiao Xie, a 17-year-old delivery driver, discovered a 2.267-gram gold bar worth nearly 2 million CNY on the streets of Shenzhen and promptly returned it to the police.
Prime Minister Pham Minh Chinh has directed the State Bank of Vietnam to implement measures to stabilize the gold market and reduce the disparity between domestic and international gold prices.
Prime minister Pham Minh Chinh has requested the state bank governor to report on the current situation and solutions for managing the monetary, gold, and exchange rate markets.
Deputy prime minister Nguyen Hoa Binh has directed ministries and agencies to form an inspection team to examine compliance with gold trading policies among credit institutions and businesses.
The state bank of Vietnam has been tasked with increasing inspections and taking strict action against manipulation and hoarding that destabilize the gold market.
The Vietnamese government has ended its monopoly on gold bar production, allowing qualified businesses and banks to participate, according to a new decree.
Global gold prices are expected to rise significantly, benefiting from signals that the Federal Reserve (Fed) will begin easing monetary policy as early as September.
