US EditionVietnam Opens Up Gold Market in ‘Pivotal Shift’ as Monopoly Ends
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5 Articles
Vietnam Opens Up Gold Market in ‘Pivotal Shift’ as Monopoly Ends
Vietnam is opening up its gold market, ending a state monopoly on imports and exports of raw bullion as well as producing bars, in a move that may boost supply and narrow a gap between local and global prices.
Vietnam ends state monopoly on gold bar production; local price premiums may narrow
Vietnam, one of the largest gold markets in Asia, has initiated a major overhaul by ending over 13 years of state monopoly on gold bar production, which was previously held by state-owned Saigon Jewelry Company (SJC).
News at 8am on August 27: Officially abolishing the monopoly on gold bar production; EU has licensed HIV vaccine; US will allow 600,000 Chinese students to enter the country; Nigerians are increasingly eating bush meat; Using drones to clean up trash on Mount Everest...
Domestic gold prices dropped by 200,000 - 400,000 VND per tael after the official announcement of the removal of the monopoly on gold bars and raw gold imports.
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