The proposal to allow businesses to borrow gold from the public has triggered concerns over how to effectively to unlock the vast idle assets for production while preventing risks and safeguarding system security.
Banks have issued warnings to customers about growing risks tied to online and black market gold transactions, as scammers deploy increasingly sophisticated tactics to defraud investors and buyers.
The State Bank of Vietnam said it will monitor gold markets closely and coordinate with agencies to manage and stabilise the market within its authority.
The domestic gold market shone last week, with prices of gold rings continuously breaking records and even surpassing the buying price of SJC gold bars.