A new race in the gold market
For the past few months, thinking about buying gold for hoarding, Ms. Thu Lan (45 years old, Cau Giay, Hanoi) has felt bored.
"Early in the morning, I have to go out to get a number, wait in line all morning, sometimes I still have to go home empty-handed. Hearing that commercial banks will also be able to produce and sell gold bars in the near future, I was very happy. Hopefully this misery will end, and our people will have much more convenience in buying and selling" - Ms. Lan excitedly shared.
Ms. Lan's concern is also the common sentiment of many people in the context of limited supply of SJC gold bars. However, the upcoming market promises to be more vibrant as commercial banks are preparing to enter the race.
Vietnam Technological and Commercial Joint Stock Bank (Techcombank) has revealed ambitious plans. Mr. Pham Quang Thang, Deputy General Director of Techcombank, said that the bank has taken careful preparations to return to the gold market after a period of suspension.
Mr. Thang revealed that Techcombank has sought international partners to import raw gold and is researching the processing of Techcombank branded gold bars. This bank has also prepared facilities such as warehouses, personnel, processes and diverse distribution channels from traditional branches to digital platforms, allowing people to buy and sell gold online.
Meanwhile, as one of the banks with experience in trading gold bars since 2012, the Asian Bank (ACB) is also taking steps to adjust operations according to new market regulations.
Accordingly, the bank has announced the version "Regulations on trading in buying and selling gold bars", which will officially take effect from October 10, 2025. This announcement is to meet the requirements for information transparency in Decree 232, which stipulates that credit institutions must publicize customer processes, rights and obligations.
Currently, gold bar trading activities at ACB are still taking place normally with two main product lines: SJC gold bars and ACB brand gold bars (which were produced before 2012). Regarding the plan to produce new-generation gold bars, ACB said the bank is in the process of waiting for a detailed Circular from the State Bank for further implementation steps.
Expecting a more transparent and convenient market
The participation of commercial banks is expected to solve the supply problem, thereby narrowing the gap between domestic and world gold prices. This move is facilitated by Decree 232/2025 of the Government, amending Decree 24 2012, ending more than a decade of state monopoly on gold bar production.
Evaluating the new policy, Techcombank's leaders said that this is a very correct and timely decision, contributing to building a more transparent and sustainable gold market.
Mr. Thang also analyzed the reasonableness of the regulation on gold transactions through bank accounts. "Even small transactions at the market for a few thousand dong have been done by bank transfer. Therefore, the regulation on trading gold for VND20 million or more through an account is completely reasonable and normal" - Mr. Thang emphasized.
With active preparation from Techcombank, ACB and many other banks and large enterprises, people can completely expect a more vibrant, transparent and convenient gold market in the coming time.
