In a surprising turn of events, gold prices surged once again on the morning of August 27th, rising by an additional 300,000 VND per tael compared to the previous day’s closing price on August 26th.
By noon, SJC gold bars at Saigon Jewelry Company (SJCCo) maintained their buying and selling prices at 126 million VND and 128 million VND per tael, respectively, the same as the opening price earlier that morning. The buying-selling spread for each tael of gold widened to 2 million VND, while the spread for SJC gold rings ranged from 2.5 to 2.6 million VND, with buying and selling prices from 119.9 to 122.4 million VND per tael.
Long queues of customers waiting to buy gold at SJC, Nguyen Thi Minh Khai, from the early morning. (Photo: Ha Linh)
At PNJ, SJC gold bars were also bought and sold at 126-128 million VND per tael, with a spread of 2 million VND, but the spread for PNJ gold rings reached 2.7 million VND per tael.
Accordingly, each tael of PNJ gold rings, including plain 999.9 gold rings, Kim Bao gold rings, Phuc Loc Tai gold rings, and PNJ – Phuong Hoang gold rings, were priced at 119.9 million VND for buying and 122.6 million VND for selling.
At noon, Mi Hong listed the buying price of SJC gold taels 300,000 VND lower than the previous day’s closing price, but the selling price increased by 300,000 VND. The buying and selling prices were 126.8 million VND and 128 million VND per tael, respectively, while the buying and selling prices of Mi Hong gold rings were 121 million VND and 122.4 million VND per tael.
Smaller gold shops in markets such as Tan Dinh, Thu Duc, and Ben Thanh adjusted their gold bar prices downward by about 1 million VND compared to the previous day, with buying and selling prices hovering around 128-129 million VND per tael.
Notably, despite the continued surge in prices to record highs, customers lined up to buy gold early in the morning, even before the shops opened.
The higher the gold price goes, the more people are stimulated to buy gold.
According to VTC News reporters, at the Saigon Jewelry Company – SJC on Nguyen Thi Minh Khai street, hundreds of people had already gathered early in the morning, waiting for the store to open for transactions. A motorcycle parking lot owner next to this jewelry center shared that the number of people queuing to buy gold today was unexpectedly high. As soon as the store opened for business at around 6 am, there were already dozens of people waiting in line.
By 8 am, the inside counters were packed with customers waiting to buy gold according to their assigned numbers. SJC imposed a limit of one tael of gold bars and one chi of gold rings per customer.
At Mi Hong, the two branches near Cho Ba Chieu market were also crowded with customers from 6 am onwards. This enterprise also limited each customer to purchasing only one chi of gold rings.
Regarding gold bars, the shop announced that they were sold out as soon as they opened. The selling price of plain gold rings at the time of opening was 122.4 million VND per tael, with a buying price of 121 million VND per tael.
At 10 am, customers were still queuing in a long line, waiting for their turn to buy gold. (Photo: Ha Linh)
After 8 am, even more people arrived to buy gold, resulting in a long queue with multiple layers extending towards the parking lot area. However, around 10 am, the shop once again announced that they had sold out of gold rings.
Approaching 11 am, Ms. Ha Thu and her two friends from An Khanh Ward had to leave and plan to return in the afternoon as the shop ran out of 1-2 chi gold rings. She mentioned that a few other shops she inquired with also reported a shortage of small gold items and only had SJC gold bars available, but their prices were 2 million VND higher than SJC’s selling price.
Interestingly, despite the high gold prices, customers seemed even more eager to purchase gold. Many did not seem concerned about the government’s recent issuance of Decree 232/2025, which officially ended the state monopoly on gold bar production and trading.
