Vietnam Gold Prices Stay Above Global Rally

Saigon Jewelry Co. said it was quoting SJC bars at 140.6 million dong for purchases and 143.6 million dong for sales, both unchanged from the prior morning. Mi Hong listed SJC at 141.5 million dong to 143 million dong, while Bao Tin Minh Chau quoted 138.7 million dong to 143.6 million dong, highlighting wide differences in buy prices even for the same bar product.

The spread between buying and selling prices also remains elevated. Mi Hong’s gap was 1.5 million dong per tael, versus 3 million at SJC and 4.9 million at Bao Tin Minh Chau, signaling that dealers are still protecting margins in an unsettled market.

In the ring-gold segment, prices were mixed. Phu Quy kept 9999 rings unchanged at 140 million dong buying and 143 million dong selling, while DOJI cut its ring price by 100,000 dong to 139.1 million dong to 143.1 million dong. Bao Tin Minh Chau quoted rings at 138.7 million dong to 142.7 million dong.

The global market was firmer at the same time, with spot gold up $13 from the previous morning. Yet domestic prices did not follow, suggesting local demand and supply conditions are dominating the session more than the international move.

The State Bank of Vietnam’s central rate was cut 4 dong to 25,633 per dollar, while Vietcombank quoted the greenback at 25,700 dong buying and 26,080 dong selling. In the informal market, the dollar traded around 25,900-26,000 dong, adding another layer of currency pressure for gold buyers watching imported pricing and the local premium.

Gold is likely to stay volatile in the near term as the international market swings around the $4,100-an-ounce area and Vietnam’s domestic brands continue to reprice at different speeds. The key watchpoint for investors is whether the SJC premium narrows if global bullion extends its rise, or whether local pricing remains stubbornly detached from the international benchmark.