Should You Buy Gold Now?

Saigon Jewelry Company listed the buying and selling prices of SJC gold bars at 84.9 – 86.9 million VND per tael.

Other major gold businesses such as Phu Quy Group, Bao Tin Minh Chau JSC, and Doji Group posted their selling price of SJC gold bars at 86.9 million VND per tael.

There is a difference of about 200,000 VND per tael in the buying price of SJC gold bars among these companies.

Meanwhile, Mi Hong Gold System listed the buying price of SJC gold bars as the highest in the market and the selling price as the lowest at 85.5 – 86.5 million VND per tael.

The selling prices of gold rings posted by gold businesses vary among brands. The price of gold rings closely follows that of SJC gold bars. Specifically, Bao Tin Minh Chau JSC listed the buying and selling prices of gold rings at 84.9 – 86.85 million VND per tael. The price of gold rings under the Phu Quy brand was listed at 84.5 – 86.2 million VND per tael.

This morning, the world gold price was listed at 2,667 USD per ounce, equivalent to nearly 83 million VND per tael. The domestic gold price is currently higher than the world price by more than 3 million VND per tael.

Speaking to Tien Phong, Mr. Nguyen Quang Huy, an expert from Nguyen Trai University, said that in 2025, the State Bank will regulate the gold market to prevent the “goldization” of the economy and change people’s habit of hoarding gold. Therefore, domestic gold prices will closely follow world gold prices, with forecasts of a slight increase due to safe-haven demand amid global instability.

According to Mr. Huy, investors can buy gold at this time to welcome the price increase on the occasion of the God of Wealth Day. However, investors should consider diversifying their investment channels.

In the currency market this morning, the State Bank listed the mid-rate at 24,341 VND. Commercial banks listed the buying and selling prices of USD at 25,120 – 25,510 VND/USD.

In the free market, USD prices were traded at around 25,537 – 25,637 VND/USD.