Gold price cools down, Nghe An gold market warms up

Gold prices are on a sharp decline. Photo: TP

The gold market developments on May 13, 2025 continued to attract the attention of investors and people across the country. In the international market, the spot gold price on Kitco was traded at 3,240 - 3,241.5 USD/ounce, slightly up from yesterday's sharp decline. Previously, the world gold price had fallen freely to 86.6 USD, equivalent to more than 2% of its value in just one trading session after the US and China reached a temporary agreement on reducing import taxes.

The international market developments have led to a sharp decline in domestic gold prices. At major systems such as SJC, DOJI, Phu Quy and Bao Tin Minh Chau, gold bar prices have all dropped by VND800,000 in both buying and selling prices compared to the afternoon of May 12.

On the morning of May 13, the current listed price at these systems ranged from 117.2 million VND/tael (buy) to 119.2 million VND/tael (sell). Bao Tin Minh Chau Group also made a sharp decrease, with a decrease of up to 1.3 million VND/tael in the selling direction.

The price of plain round gold rings decreased slightly compared to the price of gold bars. Photo: TP

In contrast to gold bars, the price of gold rings and jewelry did not fluctuate much. SJC gold rings of type 1-5 remained unchanged at 112.5 - 115 million VND/tael (buy - sell).

In Nghe An, the gold market has also “heated up” significantly after a series of gloomy days. At large companies and corporations such as DOJI Nghe An, AJC North Central branch, the listed gold price is lower than the general market level. Specifically, DOJI sells at 115 million VND/tael and buys at 112.5 million VND/tael. AJC also only lists the selling price at 115.5 million VND/tael and buys at 112.5 million VND/tael. The difference here only fluctuates from 2.5 - 2.7 million VND/tael - significantly lower than private gold shops.

The gold market is bustling as people's demand for gold increases. Photo: TP

However, the biggest bottleneck in the group system is the situation of "out of stock". Records on May 13 show that most of the DOJI and AJC branches in Nghe An have run out of plain gold rings - the type of product that people are looking to buy the most to stock up. Not only that, these units have also stopped accepting deposits, only selling when there is stock.

This reality forces many people, even though they want to buy gold at a lower price and with a smaller difference, to switch to buying at private gold shops.

On the contrary, at gold shops like Kim Thanh Huy, Nhu Trinh… goods are always available, customers can buy as much as they want. However, the prices here are pushed up quite high.

People took advantage of the falling gold price to buy, and the number of purchases was also greater than before. Photo: TP

Kim Thanh Huy shop listed the buying price at only 107 million VND/tael, but sold it at 113 million VND/tael, a difference of up to 6 million VND. Nhu Trinh Gold and Silver was 113.3 million VND/tael (selling) and 108.2 million VND/tael (buying), a difference of nearly 5.1 million VND/tael. However, these shops were still crowded, showing that people's demand for gold was increasing sharply.

Explaining this phenomenon, Ms. Nguyen Phuong H., a customer who just bought 25 taels of gold at a gold shop on Tran Phu Street (Vinh City) shared: “Gold is still the safest investment channel. Real estate is facing many risks due to high taxes, stocks are unstable, and savings do not generate significant profits. I am taking advantage of this sharp drop in gold to buy some, because I believe the gold price will soon rebound and can reach 130-140 million VND/tael by the end of the year.”

In addition to investment purposes, many people take advantage of the gold price drop to buy gold to pay off debts they borrowed in advance. Photo: CSCC

In addition to investment purposes, many people took advantage of the gold price drop to buy gold to pay off their previous debt. Mr. Nguyen Cong Thang (living in Vinh City) said: “In early March, I borrowed 10 taels of gold from a relative to sell for money, at that time the price was only about 90 million VND/tael. Now, although the payment deadline has not come yet, I am afraid that the gold price will continue to increase, so I bought it to pay it off early. However, I have had to pay an additional 250 million VND after only two months.”

The owner of a gold shop on Cao Thang Street (Vinh City) confirmed that the number of customers coming to the shop has increased dramatically in recent days.

According to many predictions, gold prices will rebound in the next few months. Photo: TP

The return of the bustling atmosphere at gold shops is a positive sign after many months of market stagnation. However, experts also warn that investors need to be alert and should not rush to buy gold in a crowd mentality. The gold market still fluctuates according to geopolitical factors, USD interest rates, global trade relations and major economic indicators. Meanwhile, the buying and selling price difference at private shops is too high, which can cause investors to lose money as soon as they buy.

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Source: https://baonghean.vn/gia-vang-ha-nhiet-thi-truong-vang-nghe-an-am-len-10297180.html