The price of SJC gold bars fluctuated unexpectedly after news of the removal of the gold bar monopoly.

SJC gold bar prices continue to remain high.

On the morning of August 27th, the gold market continued to witness unexpected developments. Saigon Jewelry Company (SJC) listed the price of gold bars at 126 million VND/ounce for buying and 128 million VND/ounce for selling, an increase of 300,000 VND per ounce compared to the end of August 26th.

Major gold businesses and other commercial banks such as PNJ, DOJI, Eximbank, Sacombank, andACB are all maintaining gold bar prices at record highs.

The spread between buying and selling prices has also widened to 2 million VND/ounce, instead of just about 1 million VND/ounce as in previous days. This widening of the spread shows that gold trading businesses are being more cautious in the face of strong fluctuations, and also reflects the still unstable market sentiment.

Diễn biến giá vàng miếng SJC bất ngờ Sau thông tin xóa độc quyền vàng miếng - Ảnh 1. — The price of SJC gold bars did not fall as expected, but continued to rise this morning.

Meanwhile, smaller gold shops in Ho Chi Minh City have proactively adjusted the price of SJC gold bars downwards to 128 million VND/ounce for buying and 129 million VND/ounce for selling, about 1 million VND lower per ounce than the previous day.

In contrast to this trend, the price of 99.99% pure gold rings and jewelry continued to rise. Gold shops of all sizes simultaneously listed buying prices at around 119.9 million VND/ounce and selling prices at 122.4 million VND/ounce, an increase of 200,000 VND per ounce compared to the previous session. This development shows that, despite the difficulties faced by SJC gold bars due to limited supply and prices reaching their peak, gold rings remain popular thanks to their more abundant supply and greater accessibility for many people.

What surprised investors was the almost complete lack of reaction from the market to Decree No. 232/2025/ND-CP, amending and supplementing Decree 24/2012/ND-CP on the management of gold trading activities, which was recently issued. According to the new decree, the state's monopoly mechanism in the production and import/export of raw gold for the production of gold bars is officially abolished, giving way to a conditional licensing mechanism.

According to analysts, domestic gold prices cannot fall immediately because the new regulations need time to be implemented. For the decree to be effective, the State Bank of Vietnam must issue detailed guiding circulars and license qualified businesses and commercial banks to participate in the production and import of raw gold. Only when supply is truly abundant and competition is established will the price of gold bars have a basis to cool down and move closer to international prices.

The price difference for SJC gold bars remains at a record high.

On the international market at 9:00 AM Vietnam time, the spot gold price was at $3,386 per ounce, an increase of more than $12 in the past 24 hours. The main reason stems from concerns about instability in US monetary policy following President Donald Trump's unexpected announcement of the dismissal of Lisa Cook, Governor of the Federal Reserve (FED). This shocking move immediately caused global investors to seek gold as a safe haven, driving prices up sharply.

However, compared to the peak of $3,500/ounce set in April, the current world gold price is still significantly lower. Conversely, the price of SJC gold bars in Vietnam has continuously broken records, approaching the 130 million VND/ounce mark. This creates a paradox: world gold prices have not yet returned to their peak, but domestic gold prices have continuously set new records.

Based on the listed exchange rate, the world gold price is currently around 108 million VND/ounce. Therefore, domestic gold rings are about 14.4 million VND/ounce higher than the world price, while SJC gold bars are even higher by as much as 20 million VND/ounce – a record difference.