On the morning of January 24th, Saigon Jewelry Company Limited (SJC) listed the price of SJC gold bars at 172.3 - 174.3 million VND/ounce (buying price - selling price), an increase of 2.1 million VND in both buying and selling prices compared to the closing price on January 23rd. Major gold brands in Hanoi also listed SJC gold bars at this level.
Following the strong upward trend, the price of 9999 pure gold rings traded at Bao Tin Minh Chau was around 171.3 - 174.3 million VND/ounce (buy - sell). Meanwhile, at DOJI Gold and Gemstone Group Joint Stock Company, pure gold rings traded around 170 - 173 million VND/ounce (buy - sell). At Phu Quy Gold Investment Joint Stock Company, gold rings traded at 170.5 - 173.5 million VND/ounce (buy - sell).
Domestic gold prices rose sharply this morning, following the upward trend of global gold prices. At 10:00 AM (Vietnam time), the global gold price was trading around $4,988 per ounce, the highest ever. Converted using the Vietcombank exchange rate, each ounce of world gold is worth approximately 158.6 million VND. Therefore, the price of SJC gold bars in Vietnam is currently about 16 million VND per ounce higher than the global gold price.
According to economist Dr. Nguyen Tri Hieu, from the beginning of 2025 until now, the world gold price has increased by about 50%, while the domestic gold price has increased by about 70%. "There are few investment channels that yield a 70% profit within 12 months like the gold market," said Dr. Hieu.
Explaining the recent "gold rush," Dr. Nguyen Tri Hieu believes that the continuous record-breaking gold prices worldwide are due to several factors such as geopolitical risks, US monetary policy, and trade tensions between major powers. In addition, central banks and large investment funds are also accumulating large quantities of gold, causing the world gold price to rise sharply.
Domestically, besides the impact of rising global gold prices, gold prices are also being driven up sharply by supply and demand factors. Demand from consumers has increased significantly recently, while supply remains scarce, with sales being sporadic. Those holding gold are mostly optimistic that prices will continue to rise, while those who haven't been able to buy gold are feeling anxious and like they're missing out on an opportunity.
Regarding the forecast for gold prices in the near future, according to Dr. Nguyen Tri Hieu, there is a 60% probability that gold prices will continue to rise if the current supporting factors are maintained. However, it should be noted that the price of SJC gold bars is currently about 16 million VND/ounce higher than the world gold price, which poses a potential risk for investors.
"When Government Decree 232/2025/ND-CP on the management of gold trading activities actually comes into effect, abolishing the monopoly mechanism and allowing gold imports, the domestic market will be more stable, narrowing the gap between domestic and international gold prices; the supply and demand factors will be ensured, which will bring down domestic gold prices in the short term," Mr. Hieu commented.
In addition, experts also warn that the current high demand for gold as a store of value, coupled with limited supply from gold businesses, will lead to the proliferation of counterfeit gold, low-quality gold, gold of unknown origin, or gold trading scams online. People need to be extremely vigilant and take precautions.
Source: https://baohaiphong.vn/gia-vang-tang-nong-chuyen-gia-khuyen-cao-can-than-trong-534138.html
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