Vietnam Gold Price Discrepancy Blamed on International Factors and Management Shortcomings

The Government Inspectorate of Vietnam has released an inspection report on gold trading activities, highlighting several reasons why domestic gold prices often differ significantly from world gold prices. Deputy Inspector General Le Tien Dat signed and issued the conclusion on August 8th.

According to the report, international political factors and rising global gold prices have affected domestic gold prices. Meanwhile, domestic demand for gold remains high, sometimes even increasing. This has led to a significant difference between domestic and world gold prices at certain times.

The Government Inspectorate also pointed out subjective causes in management, including outdated regulations that had not been amended or supplemented in a timely manner to reflect practical conditions and the requirements of managing the domestic gold market.