" Compulsory" reporting and controlling daily gold trading data
The Governor of the State Bank of Vietnam (SBV) has signed and issued Circular No. 34/2025/TT-NHNN, officially effective from October 10, 2025. This is a document guiding a number of articles of Decree No. 24/2012/ND-CP of the Government on the management of gold trading activities, which has been amended and supplemented by Decree No. 232/2025/ND-CP.
Circular 34/2025/TT-NHNN applies to enterprises and credit institutions operating gold in Vietnam and related organizations and individuals.
The most attractive and noticeable regulation in the new Circular is to tighten management of gold bar trading information to each customer group.
Enterprises and credit institutions granted a Business License to buy and sell gold bars must connect and provide information to the SBV. This information includes citizen identification information (CCCD), corporate tax code, volume of gold bar purchases and sales and transaction value of gold bar purchases and sales.
These units must conduct daily sales reports on the purchase and sale of gold bars. The deadline for submitting daily periodic reports is no later than 2:00 p.m. on the working day following the reporting date.
The time to start connecting this information to the State Bank of Vietnam is no later than March 31, 2026.
Publicly announce listed prices and official information channels
The Circular also creates an unprecedented mechanism for transparency of gold bar prices, helping the public have an official source of price reference.
Enterprises and credit institutions granted a Business License to buy and sell gold bars must publicly post the purchase and sale prices of gold bars at the business location, buy and sell gold bars or on the electronic information page.
Units must connect to provide information about this listed price to the State Bank of Vietnam according to the instructions of the State Bank of Vietnam. Notice The Bank is responsible for receiving and posting the buying and selling prices of gold bars on the website of the State Bank of Vietnam.
Deadline for implementing price disclosure: The connection to provide information on listed prices must be done no later than December 31, 2025.
Establishment of a "power" Council to decide on import-export limits
Regarding the management of the supply of gold bars and raw gold, the Circular stipulates a centralized mechanism, decided by the highest level of leadership.
Accordingly, the Circular stipulates the establishment of a Council for the establishment and adjustment of gold import and export limits (Limited Construction Council).
The Council is chaired by a Deputy Governor of the State Bank of Vietnam.
The Council will advise the Governor of the State Bank to decide, adjust the total limit and annual limit for gold bar export, gold bar import, and raw gold import for each enterprise and commercial bank allowed to produce gold bars.
Circular 34/2025/TT-NHNN has replaced a series of previously issued documents, including Circular No. 16/2012/TT-NHNN and related amended and supplemented circulars. Certificates and licenses issued before the effective date of this Circular shall continue to be valid until they expire.
The regulation on reporting gold bar transactions to individuals, along with the disclosure and connection of daily price data, is considered a strong step by the SBV towards absolute transparency and stability of the domestic gold market.
