On January 30th, Vietnam’s domestic gold market witnessed a sudden correction as major gold retailers slashed prices by VND 5-6 million per tael compared to the previous day’s close (Photo: Nhu Hoan)
Despite the chilly morning weather in Hanoi, long queues formed outside gold shops in Cau Giay district even before opening hours (Photo: Nhu Hoan)
Major gold retailers like SJC, DOJI, Bao Tin Minh Chau, PNJ, and Phu Quy saw crowds gathering as early as 7 am. Many had closely monitored gold prices since the previous evening, eager to transact at the sharply reduced rates. Long queues formed outside Bao Tin Minh Chau gold shop
Customers were provided chairs and arranged in orderly rows
Braving the cold, everyone patiently awaited their turn
Each customer had their purchase order number written on their palm
The latest update from SJC shows gold bars dropping over VND 5 million per tael from the previous session’s close, currently trading between VND 181.5-184.5 million per tael. Compared to the peak of VND 191 million per tael, SJC gold has retreated nearly VND 7 million per tael.
Other major brands like Bao Tin Minh Chau, Bao Tin Manh Hai, DOJI, PNJ, and Phu Quy also adjusted their gold bar prices to the VND 181.5-184.5 million range, sparking vibrant trading activity from the morning.
The decline was even steeper for 9999 gold rings. SJC’s gold rings are now priced at VND 181.2-184.2 million per tael, down VND 6.6 million from the peak. DOJI and PNJ set their prices at VND 180.9-183.9 million per tael, approximately VND 6.5 million lower than the previous close.
Bao Tin Minh Chau’s gold rings saw the deepest drop, plunging VND 7.3 million per tael to trade around VND 180.5-183.5 million. Meanwhile, Bao Tin Manh Hai’s Kim Gia Bao gold rings are listed at VND 181.5-184.5 million per tael.
Many early arrivals said they were taking profits after gold’s recent rally, while others saw the sharp correction as a buying opportunity. The long queues outside gold shops highlighted investors’ cautious yet eager sentiment amid gold’s volatile price swings.
Gold Ring Prices Surge Unexpectedly on the Evening of January 27th
Amidst tightening supply and sustained high demand, the price of gold rings is surging ahead of SJC gold bars, reflecting a notable shift in market dynamics.
The Public Holds a Staggering 500 Tons of Gold
This morning (January 14th), ring gold prices continued their sharp upward trend, while SJC gold bars remained unchanged. Estimates suggest Vietnamese households hold approximately 500 tons of gold, valued at a staggering 2 quadrillion VND at current rates.
Gold Prices Surge: SJC Gold and Ring Gold Rates on the Rise as of January 14th
As of the afternoon of January 14th, gold prices surged by an additional 600,000 VND per tael compared to this morning, bringing the total daily increase to 1.5 million VND per tael. Over the past week, various gold types, including gold bars, gold rings, and 0.1-tael gold pieces, have seen a remarkable rise of 6 to 7 million VND per tael.
SJC Gold Price, Ring Gold Price Update for the Afternoon of September 13th
International gold prices surged on January 12th, reaching a new peak of $4,630 per ounce before sharply retreating below $4,600. How will domestic gold prices fluctuate on January 13th?
“Massive Gold Reserves Discovered Scattered in Safes and Under Beds Across Homes”
There are varying estimates, but according to a conservative assessment, the amount of gold held by the public could reach approximately 500 tons. Converted at current prices, this figure is equivalent to about 2,000 trillion VND, or roughly 80 billion USD. If effectively mobilized, this substantial asset could become a significant capital source for investment and economic development.
