Vietnam Gold Prices Split as SJC Bars Hold Near Peak

The pressure was clearer in the ring market. DOJI cut plain-gold ring prices by 200,000 dong a tael on both sides to 145.5 million dong to buy and 149.5 million dong to sell, while Phú Quý lowered prices by 300,000 dong. Bảo Tín Minh Châu also reduced ring quotes, though Mi Hồng kept the cheapest listed ring price at 143.7 million dong to buy and 145.2 million dong to sell.

24K jewellery followed the same pattern. DOJI and Phú Quý each cut 24K prices by 500,000 dong a tael, while SJC, PNJ and Bảo Tín Minh Châu held steady. That leaves domestic retail gold still far above international levels and continues to support a wide premium in Vietnam’s physical market.

The benchmark abroad was weaker too. Spot gold fell 0.33% to $4,439.60 an ounce, while Comex gold for October delivery slipped to $4,440.59. Using Vietcombank’s dollar rate of 26,260 dong, world gold works out to about 140.5 million dong a tael, or roughly 8.2 million dong below domestic prices.

For investors and buyers, the message is that Vietnam’s gold market remains tight even as global bullion cools. The next catalyst is whether international prices stabilize or extend their decline, which would likely keep pressure on local rings and jewellery even if SJC bars stay pinned near record levels.