Hanoi (VNA) - The prices of SJC-branded gold bars have surged by 2.6 million VND (102.5 USD) per tael since the beginning of 2025.
In the weekend session, the prices were listed at 84.8 million VND and 86.8 million VND per tael for sellers and buyers compared to the level of 82.2 million and VND and 84.2 million VND on January 1's trade.
This level is forecast to maintain throughout this week.
Gold trading companies, such as the Saigon Jewellry Company (SJC), Bao Tin Minh Chau Co. Ltd, Doji Group, and Phu Quy Gold Investment Joint Stock Company, reported their gold bar prices at 86.8 million VND per tael.
In tandem with this upward trend, gold ring prices have risen by approximately 400,000 to 500,000 VND per tael. Bao Tin Minh Chau listed its Thang Long Dragon gold rings at 85.5 million VND for buying and 86.9 million VND for selling on January 12. This reflects an increase of 400,000 VND per tael on the buying side and 500,000 VND per tael on the selling side compared to the morning of January 11. The buying-selling price difference is 1.4 million VND per tael.
Domestic gold prices have now seen four consecutive strong increases, pushing gold bar and jewelry prices to their highest levels in a month.
ꦗ Globally, gold ended the week on an upward trajectory, gaining approximately 2%. The global gold price reached 2,690 USD per ounce, equivalent to 84.42 million VND per tael (including taxes and fees). This represents a rise of 1.46 million VND per tael compared to the previous week. Gold prices increased despite downward pressure from rising US Treasury yields and the continuous strengthening of the US dollar./.
Gold bar and coin demand in Vietnam in the second quarter of this year (Q2) jumped 30% year-on-year to 12 tonnes, the World Gold Council’s Q2 2024 Gold Demand Trends report has revealed.
The price of SJC-branded gold bars in the domestic market has remained stable despite the rising global gold price recorded over the past couple of weeks.
The gold demand in Vietnam slumped significantly in the third quarter of this year as the sharp price rises deterred fresh buying, while the world’s total gold demand touched record high, according to the Q3 gold demand trends research recently published by the World Gold Council.
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