Will the familiar scenario repeat itself?

The price of gold rings and gold bars has been fluctuating continuously as the God of Wealth Day 2025 approaches. Will the gold price scenario on God of Wealth Day repeat itself like every year?

The price of gold rings and gold bars fluctuates hourly.

On February 5th, 2025, domestic gold prices fluctuated continuously. As of 8:25 AM, the price of SJC gold bars at SJC Gold, Silver and Gemstone Group was listed at 88-91 million VND/ounce (buy-sell), an increase of 800,000 VND in the selling price compared to the previous session. Phu Quy's SJC gold bars were priced at 88 million VND/ounce (buy-sell) and 91 million VND/ounce (sell). DOJI recorded a significant increase, with gold bars listed at 88-91 million VND/ounce. Bao Tin Minh Chau and PNJ also adjusted their SJC gold bar prices to 88-91 million VND/ounce, similar to some other brands on the market.

Domestic gold prices fluctuated sharply ahead of the God of Wealth Day. Photo: Minh Trang

Gold ring prices at some brands have also adjusted. SJC gold rings are trading around 88 - 90.5 million VND/ounce, a slight decrease compared to the previous session. At Phu Quy, the price of round gold rings fluctuates at 88.3 million VND/ounce for buying and 90.7 million VND/ounce for selling. DOJI gold rings fluctuate at 88.6 - 90.1 million VND/ounce for both buying and selling.

Will the gold price scenario on the God of Wealth Day repeat itself?

This year, the God of Wealth's Day falls on a Friday (February 7th), however, people have been lining up to buy gold in recent days to pray for good luck.

To meet customer demand, many gold businesses have stepped up product promotion, launching unique gold ring, gold bar, and gold jewelry designs characteristic of the Year of the Snake 2025.

At Saigon Jewelry Company Limited (SJC), on the occasion of the God of Wealth Day in 2025, the company launched the "Golden Snake Welcoming Wealth" and "Lucky Golden Snake" collections, each weighing 1 tael, to cater to the diverse shopping needs of customers.

The "Kim Ty Nghinh Tai" gold ingot features a striking design with a powerful snake motif, sharp details, and a harmonious composition. Photo: SJC

The "Year of the Snake Brings Good Fortune" gold coin features an image of a snake – the symbol of the year 2025. Photo: Minh Trang

Phu Quy Gold and Silver Group also introduced the "At Ty Dac Loc" collection within the "Phu Quy Cat Tuong" 12 Zodiac Animals collection, meticulously crafted from pure gold with high-quality 999.9 gold products. Highlights of this collection are products featuring the image of the new year's zodiac animal, depicting the unique beauty of the snake – a symbol of agility, wisdom, and good fortune.

Similarly, to meet the demand for giving lucky gifts at the beginning of the year, PNJ also introduced the "Spring - God of Wealth 2025" collection with many impressive jewelry and gold designs. One of the standout products in the collection is "King Serpent Treasure", "Golden Treasure of Good Fortune" with the main imagery being a wish-granting scepter and a four-leaf clover. PNJ also launched the lucky gold product "At Ty Tat Thanh", inspired by the snake zodiac animal, representing the flexibility, intelligence, and style of young people in 2025.

DOJI Group has launched a "Golden Snake" collection to celebrate the God of Wealth. This collection includes two main products: "Golden Snake Bringing Prosperity" and "Golden Snake Attracting Wealth," both crafted from 999.9 gold and available in various weights from 1 to 5 taels. This allows customers to easily choose a product that suits their needs and budget. In addition, DOJI also launched God of Wealth gold products, featuring two distinctive designs: "God of Wealth Bringing Great Fortune" and "God of Wealth Bringing Abundance," conveying messages of luck and prosperity in life.

Along with launching attractive lucky gold collections for the God of Wealth Day 2025, major gold and silver businesses are also implementing many promotional programs to attract customers to shop before the God of Wealth Day.

People line up to buy gold ahead of the God of Wealth Day in 2025. Photo: Minh Trang

Notably, as the God of Wealth Day approaches, investors and the public pay more attention to the price of gold rings and gold bars. This is because, following the familiar pattern of previous years, the price of gold rings and gold bars on the God of Wealth Day tends to increase sharply in the days leading up to the festival, peaking on the morning of the actual day before gradually decreasing.

Typically, during the God of Wealth festival in 2023, the highest selling price for SJC gold bars was around 68 million VND/ounce, while the selling price of 9999 gold was 55.7 million VND/ounce. In 2024, the price of SJC gold peaked at 76.8 million VND/ounce, while the average price of plain gold rings was traded at 64-65 million VND/ounce. But just one year later, in 2025, this price had increased by more than 20 million VND/ounce, showing the strong volatility of the gold market.

In their forecast for the price of gold rings and gold bars on the God of Wealth Day in 2025, domestic experts predict that gold prices will continue to rise, and may even increase sharply before and during the God of Wealth Day in 2025.

Experts also advise that during the God of Wealth festival, people should carefully consider before buying gold, avoiding buying based on herd mentality, because in recent years, gold prices have often risen sharply on the God of Wealth festival but may then fall sharply.

On the international market, at approximately 9:20 AM on February 5th (Vietnam time), the spot gold price on the Kitco exchange reached $2,850.50 per ounce, an increase of $7.20 per ounce (+0.25%) compared to the previous session. Gold futures contracts also recorded an increase of $22.3, trading around $2,872.9 per ounce. Expert Daniel Pavilonis from RJO Futures believes that gold is on a strong upward trend and the $3,000 per ounce mark is entirely achievable. He suggests that trade tensions and the risk of prolonged inflation will continue to drive demand for gold as a safe haven.

The domestic and international gold markets are expected to experience significant fluctuations in the near future. Photo: Minh Trang

UBS analyst Giovanni Staunovo believes that a stronger US dollar could put temporary pressure on gold prices, but in the context of a potential trade war, holding gold remains a sound strategy. He predicts that gold prices could reach $2,850 per ounce in the coming months.

David Meger, Director of Metals Trading at High Ridge Futures, also believes that uncertainty related to US tariff policy is supporting gold prices despite headwinds from the greenback. Meanwhile, JP Morgan notes that, although a stock market downturn may create short-term pressure, the medium-term uptrend for gold remains strengthened by the negative impacts of tariffs.

Jigar Trivedi, a senior analyst at Reliance Securities, warned that while safe-haven demand is supporting gold prices, the strength of the US dollar and expectations of smaller-than-expected Fed interest rate cuts could curb the precious metal's upward momentum.

Currently, the global gold market is focusing its attention on key US economic data this week, including the private sector jobs report and non-farm payrolls. These figures will provide further clues about the health of the US economy and influence the Fed's monetary policy outlook, thereby impacting gold price trends in the coming period.

Previously, the custom of buying gold on the day of the God of Wealth was mainly popular among business people. However, in recent years, this habit has spread increasingly, becoming a familiar custom for many people, even those not involved in trade. People believe that buying gold on this day will bring good luck, ensuring a prosperous year and abundant finances.

This year, the God of Wealth Day falls on Friday, February 7th, 2025. As usual, the gold market is expected to be bustling as many people flock to buy gold to pray for good fortune and prosperity in the new year.

Source: https://congthuong.vn/gia-vang-ngay-than-tai-kich-ban-quen-thuoc-co-lap-lai-372253.html