The price of gold bars at Saigon Jewelry Company (SJC) and Phu Quy Gold and Jewelry Group was listed at 178.2 - 181.2 million VND/ounce (buying price - selling price) in the early morning session of February 9th, an increase of 1.9 million VND/ounce in both directions compared to the closing price of February 8th.
The price of silver bars, as listed by Bao Tin Minh Chau Company and Phu Quy Gold, Silver and Gemstone Group, is 3.041 - 3.135 million VND/ounce (buying price - selling price), an increase of 140,000 VND/ounce in both directions compared to the closing price of last weekend.
In the Hanoi market early morning on February 9th, the price of gold rings from several major brands increased by 2 million VND per tael compared to the previous trading session. DOJI is listing the price of 9999 Hung Thinh Vuong round gold rings at 178 - 181 million VND/tael (buying price - selling price). SJC maintained the price of gold rings from 1 to 5 taels at around 178.2 - 181.2 million VND/tael, an increase of 2.4 million VND/tael compared to the previous session...
On the global market, gold and silver prices continued their recovery in early trading on February 9th. This recovery was supported by bargain hunting by investors, a weakening US dollar, and lingering concerns about geopolitical tensions over the weekend.
On the Sydney (Australia) gold exchange, at 6:50 AM on February 9th (Vietnam time), the spot gold price rose by $84.77 per ounce, equivalent to 1.71%, to $5,041.18 per ounce, a slight increase compared to the opening price of $4,956 per ounce.
Prior to this, the precious metals market experienced a turbulent trading week. After reaching a historical peak of nearly $5,600 per ounce at the end of January 2026, the prices of gold and silver unexpectedly plummeted, at times losing 13-34% of their value in just a few sessions. The main reasons stemmed from US President Donald Trump's nomination of Kevin Warsh, a hardliner on monetary policy, to the position of Chairman of the Federal Reserve (Fed), and CME Group's third increase in trading margin requirements within two weeks to manage risk.
In Official Dispatch No. 12 issued on February 8th, Prime Minister Pham Minh Chinh requested the State Bank of Vietnam (SBV) to urgently complete the research and proposal for establishing a national gold exchange; at the same time, he requested the banking sector's regulatory body to submit a research report on solutions to mobilize and attract foreign currency and gold bars from the community.
According to statistics from the World Gold Council (WGC), Vietnamese people hold approximately 400-500 tons of gold, equivalent to $35-40 billion, accounting for nearly 8% of GDP. Experts believe that hoarding physical gold at home is a significant waste for the economy.
Many economic experts believe that Vietnam can mobilize gold held by the public, provided that regulatory authorities build market confidence, reduce monopolies, expand the participation of businesses and banks, ensure transparent gold circulation, and develop safe gold investment products.
Source: https://baotintuc.vn/kinh-te/gia-vang-van-tiep-da-tang-manh-20260209092941850.htm
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