Gold prices surged sharply on Sunday morning, with global prices hitting a new record and domestic prices in Vietnam approaching a key psychological threshold, according to Tien Phong.
World gold prices rose to US$4,541 per ounce, up US$30 from the previous day and marking a fresh all-time high. In line with the global rally, prices of SJC gold bars in Vietnam climbed to VND 159 million per tael (37.5 grams), depending on the retailer, with some brands edging close to the VND160 million mark.
At current exchange rates, that places Vietnamese retail gold prices at well over US$6,000 per tael, reflecting a combination of global price gains, currency effects and domestic market dynamics.
Domestic SJC gold prices have increased by as much as VND7 million per tael over the past week, while gold rings rose by nearly VND5 million, remaining slightly cheaper than bullion.
Vietnam’s gold market often sees sharper price movements than global markets due to supply controls, strong retail demand and currency fluctuations, factors that can amplify volatility during periods of global uncertainty. Gold prices in the country have climbed sharply over the past five years, continuing a longer-term rise already visible in 2020.
Image by Chào Hanoi.
