However, along with pending internal shortcomings, the unusual and unprecedented developments in the world geopolitical situation since the beginning of 2025 have pushed international gold prices to continuously increase, resulting in strong fluctuations in domestic gold prices, and the growing gap between domestic and world gold prices.
Governor of the State Bank of Vietnam (SBV) Nguyen Thi Hong highlighted significant progress the central bank has made in stabilising domestic gold prices, while responding to legislators’ questions on gold market management at the 15th National Assembly’s eighth session on November 11.
Gold prices fell last weekend after remaining high for a week, and experts attributed the fall to the Government’s instruction on conducting a specialised inspection of the market.
Domestic gold price decreased by 150,000 VND (6.1 USD) per tael (37.5 grams) at the beginning of trading on February 19 - God of Wealth Day (the tenth day of the first lunar month) compared to the price at the end of February 18, with many fluctuations expected on the market during the day.
The national consumer price index (CPI) in July grew by 0.45% month-on-month, fueled by higher prices of food, foodstuff and electricity, the General Statistics Office (GSO) said on July 29.
Gold remains a potential investment channel until the end of this year, though the global economy in general, and Vietnam in particular, still possess potential risk factors related to recession and inflation, which make it difficult to forecast the gold price.
Though the gap between domestic and global gold prices is significant, Governor of the State Bank of Vietnam (SBV) Nguyen Thi Hong said it is reasonable due to restricted supply.
The CPI in the southern economic hub of Ho Chi Minh City inched down 0.33 percent in March against February, according to the city’s Statistics Office.
The consumer price index (CPI) in the southern largest economic hub of Ho Chi Minh City increased 1.19 percent in February from the previous month, according to the city’s Statistics Office.
Vietnam’s consumer price index (CPI) in February was up 1.52 percent over the previous month and 0.7 percent year on year, according to the General Statistics Office (GSO).
The fact that some countries have become the third place in the world outside mainland China to confirm deaths from COVID-19 also makes investors worry, so they often consider gold as the safest asset.
In the first eight months of the year, the overall inflation was higher than the core inflation. This reflected that the price fluctuations were mainly due to the hike in prices of food, foodstuff, ga
