On the evening of April 19, several customers contacted Phu Nhuan Jewelry Company (PNJ) to inquire about purchasing SJC gold bars and plain gold rings, only to be informed that the items were out of stock.
“SJC gold bars, PNJ plain gold rings, and PNJ Tai Loc gold bars are currently out of stock across all PNJ stores, and we do not have an exact timeframe for when they will be back in stock,” a company representative replied to customers via their official Fanpage.
On PNJ’s website, at the close of April 19, the buying and selling prices of SJC gold bars were listed as 112 million VND and 114 million VND per tael, respectively. The selling price of PNJ plain gold rings was listed as 113.5 million VND per tael, with a buying price of 109.5 million VND per tael. These prices marked a decrease of approximately 4-6 million VND per tael compared to the previous day’s rates. SJC gold bars and gold rings experienced a sharp decline in prices over the past day, falling from a peak of 120-121 million VND per tael.
PNJ announces the unavailability of SJC gold bars, plain gold rings, and Tai Loc gold bars.
According to PNJ’s announcement, not only SJC gold bars but also plain gold rings and Tai Loc gold bars were out of stock. In their recently published 2024 annual report, PNJ’s leadership also mentioned the scarcity of raw materials and predicted that 2025 would continue to be challenging in terms of gold raw material procurement.
Despite these challenges, PNJ’s net revenue for 2024 increased by 14.1% year-on-year to 37,823 billion VND. Profit after tax rose by 7.2% compared to the previous year, reaching 2,113 billion VND, despite market challenges and fluctuations in input gold prices.
During a recent discussion hosted by NLD newspaper on the topic “Solutions to Promote Private Economic Development,” PNJ’s leadership proposed a clear distinction between gold jewelry and gold bars. Although both are gold raw materials, their nature and purpose differ. They suggested that gold jewelry be considered a regular consumer product and that businesses be allowed to import gold raw materials for jewelry production.
PNJ’s announcement
The Golden Rush: Soaring Prices of Gold Rings and SJC Gold
Late in the afternoon of April 8th, domestic gold prices rebounded, surging back above the 100 million VND per tael mark after a sharp decline earlier in the day. This dramatic turnaround saw the price of gold jewelry and SJC gold reclaim their lofty perch, offering a glimmer of hope to investors and enthusiasts alike.
The Golden Opportunity: Unlocking a Profitable Venture with a 300 Million VND Profit from a Wise Investment in Gold Rings
“I’ve been investing in gold since early 2024, and it’s paid off handsomely. I recently sold 100 gold rings, profiting over VND 300 million. I can confidently say that, at this moment, no other investment channel comes close to gold’s returns,” exclaimed Thu Hoai from Hanoi’s Dong Da district.
Selling Gold Rush: Queues Form as Prices Soar Past 106 Million VND per Tael
The SJC gold bar and ring prices have taken a turn, dipping after peaking and prompting a wave of sellers to lock in their profits.
The Alluring Alloy: A Tale of Fluctuating Fortunes
As the sun set on April 10th, the domestic gold price took a downturn, relinquishing its hold on the 104 million dong per tael mark.
Gold prices, including SJC gold and gold rings, have taken a downward turn, falling by an average of 300,000 VND per tael from their recent peak.
Gold Prices Soar Following US’s 90-Day Tariff Reprieve
Global gold prices continued their upward surge during the trading session this morning (April 10th, Vietnam time), despite improved investor sentiment following US President Donald Trump’s announcement of a 90-day delay in retaliatory tariffs and a reduction to 10% for economies other than China.
