The narrowing of the gap between domestic and global gold prices may further pull down the selling price of SJC-branded gold bullion of state-owned commercial banks and Saigon Jewelry Company (SJC) in the near future, Dao Xuan Tuan, Director General of the State Bank of Vietnam (SBV)'s Foreign Exchange Management Department, has said.

SJC-branded gold bullion is sold at 77.98 million VND (3,069 USD) per tael on June 4 as approved by the Governor of the State Bank of Vietnam (SBV).

The Ministry of Industry and Trade has called for concerted solutions to maintain market stability, remove difficulties facing domestic firms, and increase the total retail sales of goods and services.

The Malaysian government announced on August 29 that it will set up two committees to help reduce the country's fiscal deficit to 2.8 per cent of the Gross Domestic Product, according to Malaysian Finance Minister Lim Guan Eng.

The finance ministry said it would continue to tighten price management over key products such as electricity, coal, petrol and public services in the last months of the year.