Gold exchange management - International experience and policy recommendations for Vietnam

After more than 10 years of implementation, Decree 24/2012/ND-CP has supported Vietnam's gold market to be more stable. The goldenization in Vietnam’s economy has also been minimized. However, mobilizing gold from public to serve the country’s economic development is still an issue that needs to be solved in the current period. This is a difficult problem based on experiences of other countries. It is necessary for Vietnam’s state management agencies to be cautious and to assure the safety of gold mobilization from public. A number of countries have established gold exchanges to meet the needs of people's hoarding and investment. These gold exchanges also help state management agencies control and manage the gold market. This paper is to present the experiences of China and India in managing gold exchanges, and make some policy recommendations for Vietnam in the coming time.