Gold price increases, trading is quiet

*Gold prices increase but trading is still quite quiet. Photo: THANH LAN*

According to records at large gold stores in Da Nang in recent days, although the price of gold has increased, the number of people coming to trade has not increased. However, it is worth mentioning that at branded stores such as SJC, PNJ and DOJI, there are no gold rings and gold bars for sale, only gold jewelry transactions.

On August 28, domestic gold prices increased sharply again, the gold market continued to witness a strong price increase, bringing both SJC gold bars and gold rings to new records. SJC gold reached a peak of 128 million VND/tael, gold rings reached 123 million VND/tael, the difference with the world price was nearly 20 million VND.

Ms. Vi Lan (living on Vo Nguyen Giap Street, Ngu Hanh Son Ward) said: "Currently, I have idle money and want to invest in gold for profit, but this week I have been to many large gold and silver stores and they all said they are out of stock."

Gold bars of major brands, on the morning of August 28, were listed at around 126 - 128 million VND/tael (buy - sell), an increase of 300 thousand VND/tael compared to August 27. This is the highest price ever, setting a new record for the SJC brand. Large enterprises such as DOJI, PNJ... also simultaneously adjusted their selling prices to 128 million VND/tael, showing a trend of increasing prices across the entire market. Not only gold bars, gold rings also recorded a remarkable leap, with a similar increase.

In the past few days, as gold investors, we have been to several gold and jewelry stores such as DOJI on Tran Phu Street, SJC on Hung Vuong Street, and PNJ on Nguyen Van Thoai Street to ask to buy gold bars, but all stores were informed by the staff that they only had gold jewelry and that there had been no gold bars for many days. When we asked why there was no source of goods to sell, we were told that it was because the gold price was high and there were no sellers.

Gold prices increased, but transactions were not many. Photo: GIA MINH

On August 26, 2025, the Government issued Decree No. 232/2025/ND-CP amending and supplementing a number of articles of Decree No. 24/2012/ND-CP on the management of gold trading activities. This Decree officially abolishes the State monopoly mechanism on the production of gold bars, the export and import of raw gold for the production of gold bars.

The Decree also marks an important turning point in the management of the gold market. Accordingly, the market will have more commercial banks and enterprises qualified to import gold and produce gold bars.

In fact, compared to the beginning of August 2025, each tael of SJC gold bar has increased by 5 - 6.2 million VND, and the selling price has increased by 6.3 million VND. Thus, in less than 1 month, the price of gold has increased by more than 5%. Compared to the beginning of the year, the price of gold has increased by 44 - 45 million VND per tael, equivalent to an increase of more than 53%.

According to financial experts, to solve this situation, it is important to have a transparent gold market and stable supply. Management agencies need to have clear policies to ensure supply-demand balance, avoiding speculation and price manipulation.

In addition, providing accurate and timely information about the gold market is also very necessary. People need to be equipped with knowledge to make the right investment decisions, instead of following the crowd mentality, avoiding unnecessary risks.

Gold has long played an important role in the Vietnamese economy and culture. Gold is not only a safe investment and asset storage channel but also a symbol of wealth and prosperity.

However, the domestic gold market has recently been facing a problem: gold monopoly, especially for SJC gold bars. This situation not only causes price instability but also poses many risks, hindering the healthy development of the market.

Therefore, the elimination of monopoly under Decree No. 232/2025/ND-CP is an important step to break down the uncompetitive market structure, opening up opportunities for many businesses to participate and gradually eliminating factors that hinder the development of the gold market.

At the same time, tighter regulations on banking transactions and e-invoicing will create an additional layer of oversight, prevent manipulation and increase market transparency.

Eliminate the monopoly mechanism of gold bar production

On August 26, the Government issued Decree No. 232/2025/ND-CP amending and supplementing a number of articles of Decree No. 24/2012/ND-CP dated April 3, 2012 of the Government on management of gold trading activities.

According to the decree, gold bars are gold products that are stamped into pieces, stamped with letters, weight and quality indicators, and have the code of the enterprise and commercial bank licensed by the State Bank of Vietnam to produce; gold bars are produced by the State Bank in each period. Thus, there is no longer a State monopoly mechanism in the production of gold bars; instead, the management agency will license this activity to qualified enterprises and banks.

Banks and businesses wishing to be licensed to produce gold bars must have a license to buy, sell and trade this item. At the same time, they must also meet capital requirements, with businesses having capital of VND1,000 billion or more, and banks having capital of VND50,000 billion. The dossier and procedures for granting a license to produce gold bars will be regulated by the Governor of the State Bank. This is to ensure that businesses and banks producing gold bars are experienced organizations, have sufficient financial capacity and comply with the law.

The Decree also adds regulations on payment for buying and selling gold worth VND 20 million or more per day by a customer must be made through the customer's payment account and the payment account of the gold trading enterprise opened at a commercial bank or foreign bank branch.

MINH LE

Source: https://baodanang.vn/vang-tang-gia-giao-dich-tram-lang-3300628.html