On October 17th, the opening trading session saw gold prices for SJC bars listed by major enterprises at 150.2-152.2 million VND per tael (buy-sell), a surge of 3.1 million VND in both directions. This marks a new record high for the commodity.
Meanwhile, gold rings were listed at 145.9-148.1 million VND per tael (buy-sell), unchanged from the previous day, also reaching a peak.
The rise in gold prices has spurred increased demand among the public. However, supply is increasingly scarce as the State Bank has halted the sale of stabilizing gold bars through four state-owned banks and SJC, amid a new management mechanism transition.
Observations by reporters on the morning of October 17th revealed that despite signs reading “out of gold” being posted early, many people patiently waited, shielding themselves from the sun, eyes fixed on the store in hopes of a reopening. Some sat on the sidewalk, sipping water, while others constantly updated gold prices on their phones.
At Bao Tin Minh Chau jewelry store on Cau Giay Street (Hanoi), hundreds lined up early to buy gold and conduct related transactions.
From early morning, long lines formed outside the store.
The store’s lobby and courtyard were packed with people waiting to buy gold.
Many reported waiting 3-4 days without success, fearing loss of their turn if they left. The heat wasn’t just from the weather but also the anxiety of “missing out” as gold bar supplies dwindled after the State Bank’s stabilization sales ceased.
On the morning of October 17th, the gold store on Cau Giay Street (Hanoi) buzzed with unusual activity. From dawn, long lines formed, everyone anxious to secure gold before stocks ran out. However, within minutes of opening, the store announced that smooth Dragon Thang Long 9999 gold rings were sold out, leaving many disappointed.
Some customers opted for silver or other precious metals to “hold their funds,” concerned about further gold price fluctuations.
By 9 a.m., the store posted a “temporarily out of stock” sign.
Yet, many remained, waiting to secure a spot or switch to silver to safeguard their funds.
Many shared they’d been waiting for days without purchasing gold.
Despite having numbers and arriving early, many were unsure when their turn would come. Despite busy schedules, they waited, needing gold for personal matters.
In the hot weather, people crowded under an awning outside the store, waiting.
Store security was busy guiding customers with parking, numbering, and orderly queuing.
Gold Ring Prices Surge Past SJC Rates
This morning (October 15th), domestic gold prices surged in tandem with global trends. Notably, the price of gold rings surpassed that of SJC gold bars, reaching above 146 million VND per tael.
Gold Ring Prices Surge to 159 Million VND per Tael as of October 17th Afternoon Update
By this afternoon, a prominent enterprise has adjusted the price of gold rings to a range of 156 to 159 million VND per tael, marking an increase of over 4 million VND per tael compared to this morning’s rates.
Midday October 16: Ring Gold Prices Skyrocket, Hitting 154 Million VND per Tael
Bao Tin Minh Chau has adjusted the price of gold rings to 151–154 million VND per tael. Similarly, Bao Tin Manh Hai has increased the price of their Kim Gia Bao pressed gold rings to 150.5–150.8 million VND per tael.
Afternoon of October 15: Ring Gold Prices Surge Past 151 Million VND per Tael
This afternoon, the price of gold rings at a leading gold trading enterprise in Hanoi was adjusted to a range of 148.1 – 151.1 million VND per tael.
Gold Prices Surge Past $4,200/ounce on October 15th
Since early October, global gold prices have surged by nearly 9%, pushing the year-to-date gain to approximately 60% as of 2025.
