Will gold prices "cool down" when the monopoly on gold bars is removed?

(NLDO) - From October 10, Decree 232/2025/ND-CP amending and supplementing Decree 24/2012/ND-CP on management of gold business activities takes effect.

The important change in the new decree is to eliminate the state monopoly on the production of gold bars, as well as the monopoly on importing raw gold to produce gold bars.

From October 10, the state monopoly on gold bar production will be abolished.

According to Decree 232/2025/ND-CP, only qualified commercial banks and enterprises will be considered by the State Bank for licensing to produce gold bars.

This activity is a conditional business line and must be licensed by the State Bank.

Decree 232/2025/ND-CP also stipulates that gold transactions of 20 million VND/day or more must be conducted through bank accounts. Gold bar manufacturing enterprises are also responsible for announcing standards, product warranties, storing and connecting data with the State Bank...

Source: https://nld.com.vn/gia-vang-se-ha-nhiet-khi-bo-doc-quyen-vang-mieng-196251001092728155.htm