The State Bank of Vietnam has recently issued an official letter allowing Asian Commercial Bank (ACB) to provide gold option service for clients being individuals and organisations.
It is scheduled ACB will launch the gold option service in December. Clients can buy gold buying options to make future payments, that is after one, two, three or six months or buy gold selling options when they have income sources in gold in the future. Option is an effective tool for individuals and organisations to avoid risks when gold price unexpectedly goes up or down. Presently, the SBV is considering other risk provision tools such as swap and forward trading to apply into gold trading activities.