Gold prices remain high

There are only 10 days left until the State Bank issues import quotas for raw gold for businesses and banks; however, gold prices are still very high.

7 units are applying for licenses to produce gold bars.

According to Decree 232/2025, the State Bank of Vietnam (SBV) will grant raw gold import limits to enterprises and commercial banks before December 15 every year for the following years.

Mr. Huynh Trung Khanh, Vice President of the Vietnam Gold Trading Association, said that up to now, no unit of the association has been granted a license to produce and trade gold bars, so it has not reached the stage of being granted a license to import gold. Not to mention, a series of previously announced violating enterprises and banks must correct their violations to be eligible for a license.

Regarding this, in mid-November, responding to the dispatch of the State Bank, the Ministry of Finance provided information on the decision to inspect and examine 7 enterprises and commercial banks applying for licenses to produce gold bars, includingACB , Techcombank, VPBank, ASEAN Jewelry Joint Stock Company (AJC), Doji Jewelry Group, Saigon Jewelry Company Limited - SJC, Phu Nhuan Jewelry Joint Stock Company (PNJ). As of November 14, no unit had committed administrative violations regarding customs.

The State Bank has not yet issued a license to import raw gold.

PHOTO: DAO NGOC THACH

Although the State Bank has not yet granted a gold import limit to any unit, the gold market is no longer in a gold shortage as before. Some companies are now selling more gold. For example, on December 5, Bao Tin Minh Chau Company sold each customer 50 taels of plain round rings of Thang Long Dragon Gold, paying immediately instead of waiting many days to pick them up as before. Bao Tin Minh Hai Company applied the policy of "receive pre-order - pay later" from December 5: for purchases of 50 taels or less, the return period is 15 days; from 51 to 100 taels, the return period is 20 days; over 100 taels, the time is 25 days. In addition, the company also informed: "The gold reserves will not be sold in limited quantities, but will apply the pre-order and return policy according to the quantity as above. BTMH does not yet support receiving online orders for gold reserves". SJC Company still applies the gold selling volume for each customer of 1 tael of SJC gold bar, 1 tael of gold ring.

The market is waiting for news of the golden license.

In recent days, the price of gold has rebounded but the buying and selling power of gold in the market is still very weak. On December 5, gold trading units increased the price of SJC gold bars twice by 1.1 million VND per tael. SJC Company and Doji Group bought at 152.9 million VND and sold at 154.9 million VND/tael; Bao Tin Minh Chau Company bought at 153 million VND and sold at 154.5 million VND/tael; Phu Quy Company bought at 151.9 million VND and sold at 154.9 million VND/tael... In just 1 month, the price of SJC gold bars increased by nearly 8 million VND, equivalent to a price increase of 5.3%. Meanwhile, gold rings increased more strongly by 9 million VND/tael, equivalent to 6.1%. The price of gold rings at SJC Company on December 5 was 150 million VND and sold at 152.6 million VND. Bao Tin Minh Chau Company is the unit with the highest price of gold rings in the market when buying at 151 million VND, selling at 154 million VND/tael...

Mr. Nguyen Ngoc Trong, Director of New Partner Gold Company, explained that the supply of goods on the market has become more abundant when purchasing power has weakened. Another reason is that the price of raw gold on the market is currently around 140 million VND/tael, while the selling price of finished products is high. Each tael of gold ring sold has a difference of 12 - 14 million VND/tael, bringing in significant profits, so companies are also increasing their supply. In fact, there is no information about any unit licensed to produce gold bars or import raw gold, so this information has not yet affected the market. Similarly, Mr. Huynh Trung Khanh also said: "The market will have a clear move when December 15 is near. But with the licensing process and gold import, those units that are licensed will have to wait until 2026 to be able to do so. When the State Bank grants a limit to units and supplements the supply, the domestic gold price will shorten the expensive level."

According to the calculation of the Vietnam Gold Business Association, the demand for gold as raw material for the production of gold bars and jewelry is on average about 50 tons/year, equivalent to about 5 billion USD/year (about 420 million USD/month). After being put into production, 1/2 is processed to meet domestic demand, 1/2 is for export, that is 25 tons for export to earn from 3.5 - 5 billion USD; in which the value of labor accounts for over 30% of the value of exported products. Thus, allowing enterprises to import raw gold for production and processing into jewelry and fine arts not only meets the demand of the domestic market but also exports to regenerate a large source of foreign currency for the country.

Source: https://thanhnien.vn/gia-vang-neo-cao-18525120523020578.htm