On the morning of May 23, the National Assembly discussed in the group on supplementing the results of the implementation of the socio -economic development plan, the State budget in 2024; The implementation of the socio -economic development plan and the state budget in the first months of 2025.
An issue that delegate Ha Sy Dong (Quang Tri delegation) is particularly concerned about is the current gold market.
The delegate said that according to the Government's report, gold prices have increased by nearly 30% since the beginning of 2025 and have peaked 28 times, reaching 3,500 USD/ounce on April 23, 2025. JPMorgan Bank forecasts gold price increase to continue and may reach 4.00 0 USD/ounce, far exceeding previous forecasts.
However, according to the delegate, once considered a "safe haven", gold is now an uncertain asset, with some losing hundreds of millions in just a few days due to unpredictable fluctuations in this asset.
The sharp increase in gold prices will create far-reaching impacts, not only in the financial sector but also affect the lives of each citizen.
As gold prices increase, gold holders will benefit from this price increase. However, negative impacts cannot be ignored. According to data from the General Statistics Office, in 2024, gold prices will increase by about 13.78%, while the consumer price index (CPI) will increase by 3.2%. This shows the link between gold prices and the value of consumer goods.
The increase in gold prices will lead to great inflationary pressure. The State Bank warns that if gold prices continue to increase strongly, we could face a huge amount of inflation, causing prices of essential goods such as food, gasoline and construction materials to also increase, negatively affecting the health of the economy.
According to the delegate, it is impossible to only consider gold as a traditional investment asset. Gold is also a measure of global economic health, directly affecting the national economy.
"It is important that Vietnam proactively build a long-term strategy to stabilize the economy, avoid getting caught up in gold speculation waves, and ensure the country's sustainable development.
The Government and the State Bank need to have clear gold management mechanisms, minimize fluctuations and at the same time promote investment in production instead of in volatile assets," the delegate suggested.
In the inspection report, Chairman of the National Assembly's Economic and Financial Committee Phan Van Mai also emphasized that domestic gold prices have increased and there are unpredictable fluctuations, gold market management is still limited, and needs to continue to be improved.
The pressure of maturing large real estate bonds accounts for 64% of the total maturing value in 2025, the real estate market faces many difficulties, requiring synchronous solutions for sustainable and healthy development.
The financial market, currency and banking system need to be closely monitored to promptly control arising risks, requesting the Government to report more fully on bad debt within the table, unresolved sales debt to VAMC and potential debts that have turned into bad debts to have a comprehensive assessment of bad debt pressure and have appropriate solutions.
