Under Decree 390/2026, effective October 16, gold purchases and sales of 5 million dong or more per day must be paid by non-cash means, down from the previous threshold of 20 million dong. The decree also sets rules for licensing raw gold imports for jewelry and decorative-art makers with foreign processing contracts, and calls for an information system to manage raw gold data. The State Bank of Vietnam will inspect gold trading activities, while the Ministry of Science and Technology is responsible for national standards and quality measurement of gold. The decree repeals earlier rules on producing, processing and trading jewelry and decorative gold, so production certificates issued before October 16 are no longer a requirement. Pending applications for new, amended or supplemented certificates will be terminated by the State Bank, which will notify the applicants.
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Original headline: Mua bán vàng trong ngày từ 5 triệu đồng phải thanh toán không dùng tiền mặt
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- Phú Quý, Bảo Tín Mạnh Hải, Bảo Tín Minh Châu Simultaneously Announce Changes to Gold Payment Methods
From October 16, Phú Quý, Bảo Tín Mạnh Hải and Bảo Tín Minh Châu announced that gold buy-sell transactions totaling 5 million VND or more in a day must be paid through non-cash methods under Decree 390/2026/NĐ-CP. The threshold is much lower than the 20 million VND set by the previous Decree 232/2025/NĐ-CP. Phú Quý only accepts payments from bank accounts in the customer's own name, not e-wallets or securities accounts. Decree 390 also removes gold jewellery and decorative art production and trading from the list of conditional business lines, though businesses must still meet requirements on product quality, price display, invoices, tax and anti-money laundering.
- Gold buying and selling from 5 million dong must be paid without cash
From October 16, customers buying or selling gold worth 5 million dong or more in a day must pay by non-cash means, down from the previous 20 million dong threshold. Decree 390/2026/NĐ-CP, signed by Deputy Prime Minister Nguyễn Văn Thắng, also removes conditional business requirements for producing, processing and trading gold jewellery and decorative art, so producers no longer need a State Bank eligibility certificate. Gold bars remain a conditional business requiring a State Bank licence. For firms processing gold for foreign partners, the State Bank may consider raw-gold import licences, while companies must build data systems on gold imports, exports, trading, use and inventory that connect to the regulator.
- Buying and selling gold worth VND 5 million a day must be paid by non-cash means
From October 16, buying or selling gold worth VND 5 million or more in a day must be paid by non-cash means such as bank transfer, QR code, bank card or e-wallet, down from the previous VND 20 million threshold. Decree 390, signed by Deputy Prime Minister Nguyễn Văn Thắng, amends Decrees 24 and 232 and repeals the rules on producing and processing gold jewelry and decorative art, so State Bank of Vietnam (SBV) certificates for such production are no longer required. Pending applications for new or supplementary certificates will be halted, and fees already paid will be handled under regulations. For raw gold imports, processors with foreign processing contracts may be considered for licenses matching their needs, foreign-invested firms receive annual licenses, and all must keep data on imports, sales and inventory connected to the SBV. Import, export and temporary import licenses issued before October 16 remain valid until they expire.
- State Bank of Vietnam asks banks to monitor and reassess collateral values in line with market prices
The State Bank of Vietnam (SBV) has asked credit institutions to value collateral closer to market prices, regularly reassess it, and closely monitor its condition throughout loan terms, taking timely action if values fall. Under document No. 9608/NHNN-CSTT dated 18/10/2026, outright purchases of letter-of-credit documents without recourse must be risk-controlled like other lending and count against the SBV-set maximum 2026 credit balance. Banks must also tighten loan classification and provisioning, avoid concealing bad debt, and pay special attention to banks with high or rising bad debt. Other directives include controlling accrued interest receivable and dividend payouts, and reducing reliance on net interest income.
- Domestic gold prices move sideways, trading around 143.6 million dong per tael
On the morning of 19 October, domestic gold prices were flat, with SJC gold bars quoted at 140.6 million dong to buy and 143.6 million dong to sell per tael at major dealers such as Sài Gòn and Doji. Phú Quý's SJC bars traded at 140–143.6 million dong and its gold rings at 140–143 million dong, while Bảo Tín Minh Châu's rings were at 138.7–142.7 million dong, up 100,000 dong from the previous session. International gold hovered around US$4,184 per ounce, equivalent to about 131.5 million dong per tael at the Vietcombank rate, leaving a gap of roughly 12 million dong with SJC bars. The State Bank's central rate stood at 25,633 dong per US dollar, down 4 dong.
- Central banks keep buying gold while governments tighten the rules around retail access . Is the world preparing for a new era of monetary control ?
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