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gold bullion monopoly
News update regarding the gold bullion monopoly.
Will gold prices cool down after the monopoly on gold bars is removed?
From October 10th, the elimination of the monopoly on the production and import of gold bars is expected to help cool down domestic gold prices and bring them closer to world gold prices.
Market
The state's monopoly on gold bullion has been officially abolished.
The Decree amending and supplementing a number of articles of Government Decree No. 24/2012 has abolished the regulation that "the State has a monopoly on the production of gold bars, the export of raw gold, and the import of gold..."
The State Bank of Vietnam wants to abolish the monopoly on gold bars.
The State Bank of Vietnam (SBV) is proposing to abolish the monopoly on the production, export, and import of gold raw materials for the production of gold bars, according to a draft amendment to Decree 24/2012/ND-CP.
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