As of the close of October 16, Saigon Jewelry Company (SJC) listed the buying price of gold bars at 147.1 million VND per tael and the selling price at 149.1 million VND per tael, an increase of 1.1 million VND per tael compared to the morning.
Not only gold bars, but also 99.99% gold rings and jewelry saw a surge, with businesses trading at 145.9 million VND per tael for buying and 148.1 million VND per tael for selling, a 1.1 million VND per tael increase from the morning.
Surprisingly, in the free market, some stores pushed the buying price of SJC gold bars to 167 million VND and the selling price to 171 million VND by the end of the day, an astonishing 22 million VND per tael higher than the listed prices of major companies. This unprecedented gap is even higher than the global price by approximately 35 million VND per tael.
Over the past week, gold prices have risen by about 8 million VND per tael; in the last month, SJC gold bars have become approximately 17 million VND per tael more expensive.
Domestic gold prices are at an all-time high, causing distress for many as the wedding season approaches.
Ms. Nguyen Thi Thanh Huong from Khanh Hoa Province shared that she had to change her plan to gift gold for a friend’s wedding to cash due to the rapid price increase. Earlier this year, gold was only around 85 million VND per tael. Now, it’s nearly 150 million VND, a 60 million VND increase in less than a year.
“When gold reached 90 million VND per tael, I thought it was the peak and waited for the price to drop. Little did I know, it kept rising, breaking records. Close to my friend’s wedding, I couldn’t buy it anymore and had to switch to cash,” Ms. Huong said.
SJC gold bars and gold rings have continuously hit new highs in recent days.
Struggling with Wedding Gold Costs
With record-high prices, gold is becoming a burden for weddings. Mr. Nguyen Hoang Thanh, an office worker in Ho Chi Minh City, noted that if he were to get married now, just the gold gift for the bride would cost over 200 million VND, not including other expenses like photography, wedding attire rental, decorations, and the wedding banquet.
“Roughly, the total cost for a complete wedding could reach 500 million VND. Salaries haven’t increased, but gold prices have nearly doubled, causing everything to skyrocket,” Mr. Thanh worried.
Some families are even resorting to borrowing or renting gold for wedding ceremonies. Additionally, the soaring gold prices are putting immense pressure on those with gold-based loans or debts.
Given the rapid price increases, many citizens are urging regulatory bodies to implement stronger measures to stabilize the gold market and reduce the gap between domestic and global gold prices.
Domestic gold prices are rising rapidly.
Gold Prices Surge Beyond Expectations: Experts Urge Caution for Investors
Domestic gold prices surge to nearly 160 million VND per tael, surpassing all forecasts. Experts advise caution, urging individuals to avoid herd mentality; gold should constitute no more than 5% of total investment portfolios, serving as a long-term defensive asset.
Gold Prices Plummet: Global Rates Drop by $160/Ounce on October 17th Evening
Gold prices, which hit a new high earlier today, took a dramatic turn in the evening of October 17th, plunging with a rare single-session decline.
Gold Prices Surge Past 160 Million VND/Tael: Investors Lock in Profits, Shift Focus to Coastal Real Estate for Emerging Opportunities
As domestic gold prices surge past 160 million VND per tael, Vietnam’s asset market is witnessing a pronounced shift in capital flows, moving away from traditional safe-haven channels toward tangible assets with higher profit potential. Coastal land plots are poised to emerge as the most attractive investment destination in Q4/2025 and Q1/2026.
Gold Surges Past $152 Million per Tael: Two-Day Purchase Limit Sparks Silver Rush
On the morning of October 17th, gold prices surged dramatically, surpassing 152 million VND per tael. Despite stores temporarily halting sales due to stock depletion, eager buyers continued to queue up early, undeterred by the shortage.
“No Reason to Sell Gold Right Now”
“Gold remains irreplaceable in today’s market, and we will continue to hold it steadfastly,” asserts John Merrill of Tanglewood Total Wealth Management.
