SJC gold bar prices listed by Saigon Jewelry Company remain steady at VND 151.4 – 153.4 million per tael (buy-sell), unchanged from yesterday morning.
Other gold retailers also maintained their SJC gold bar selling prices at VND 153.4 million per tael.
SJC gold bar prices hold steady at high levels.
However, buying prices for SJC gold bars vary among retailers. Bao Tin Minh Hai Jewelry offers VND 151.9 million per tael, Phu Quy Jewelry Group VND 150.9 million, and Mi Hong Gold System VND 152 million.
Gold ring prices also remained stable. Phu Quy gold rings are priced at VND 149.7 – 152.7 million per tael, Bao Tin Minh Chau at VND 150 – 153 million, and Mi Hong at VND 152 – 153.4 million, up VND 500,000 per tael.
Meanwhile, global gold prices stood at USD 4,162 per ounce, down USD 2 from yesterday morning. Domestic gold prices are currently about VND 20 million higher than international prices. The domestic gold market faces supply shortages while consumer demand remains high.
Recently, at a gold forum, Mr. Nguyen Duc Kien, former Head of the Prime Minister’s Economic Advisory Board, emphasized the need to clarify the price gap between domestic and international gold prices.
“Why does the domestic gold price sometimes differ by VND 20 million from the global price? After accounting for taxes, fees, and manufacturing costs, what is the actual price difference? No one has calculated or explained this yet,” Mr. Kien questioned.
He advocated for the gold market to operate under market mechanisms, balancing supply and demand. He stressed the need to improve the legal framework, as most gold price fluctuations are intentionally manipulated, causing public confusion and driving widespread gold purchases.
In the currency market, the State Bank of Vietnam set the central exchange rate at VND 25,152 per USD, up 6 VND from yesterday morning.
Vietcombank’s USD rates are VND 26,189 – 26,409 per USD (buy-sell), a 6 VND increase.
On the black market, USD trades at VND 27,730 – 27,850 per USD (buy-sell).
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