State Bank of Vietnam assumes control of domestic gold market
What happened
The State Bank of Vietnam has assumed control over gold bar production and the domestic gold market in Vietnam. Previously, the State Bank of Vietnam held control over these areas under Decree 24/2012. Currently, Vietnamese gold bars sell at a premium of about 14% above the world price of the metal, a gap that has not closed.
From riotimesonline.com
Why it matters
The State Bank of Vietnam's control over gold bar production and imports dictates the supply and pricing structure of the domestic market. The current premium illustrates how tight supply and a trusted brand can isolate the local market from global commodity prices.
From riotimesonline.com
Who's involved
- State Bank of VietnamCentral bank that now controls gold bar production and the domestic gold market
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- State Bank of VietnamSpeculative
The State Bank of Vietnam might see reduced absolute control over gold supply.
- PNJSpeculative
PNJ could see changes in market share due to the introduction of new competitors.
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The entities involved
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State Bank of Vietnam
central bank
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Vietnam
country in Southeast Asia