Recorded on the morning of October 20, at large gold shops in Ho Chi Minh City, many people were present very early to queue up to wait for transactions.
The atmosphere at Mi Hong store is quite bustling. The store must give order numbers to customers to ensure security and order. The store employee said that since the beginning of the morning, there have been hundreds of customers coming to buy. The store had to issue numbers and limit the number of customers per day to avoid overload. Customers who arrived after giving out all their numbers had to make an appointment the next day.
Mr. Nguyen Quoc Minh (Gia Dinh ward) said: "I have been here since 3am to get my number to buy gold. In the past few days, the price of gold has been fluctuating continuously, so I took the opportunity to come early to buy and store, but I didn't expect so many".
Meanwhile, at SJC headquarters on Nguyen Thi Minh Khai Street, the number of customers waiting to buy gold has not decreased compared to previous days. People lined up in front of the store, many had to wait hours before their turn.
Ms. Le Thanh Thuy (An Hoi Tay ward) shared: "I registered to buy gold bars on the website but ran out of stock, so I had to go to the store to buy gold rings. Although I waited a little longer, I still wanted to buy because I was afraid the price would increase."
Many people also switch to buying gold jewelry because this item is easier to trade.
According to the State Bank of Vietnam, Region 2, the main reason for the continuous increase in gold prices in recent times is the continuous increase in world gold prices, affected by global economic developments along with factors such as trade war, US tariff policies and the weakening of the USD.
In addition, the psychology of expecting gold prices to continue to increase in the context of low interest rates and limited gold supply has caused people to rush to buy gold. In addition, it is also not ruled out the possibility that some businesses and individuals take advantage of market fluctuations to speculate and manipulate prices, leading to unusual fluctuations.
In the face of prolonged sharp increases in domestic and world gold prices, in order to stabilize the market, not to affect the macro economy and economic growth, while ensuring effective implementation of the provisions of Decree 232/2025 and Circular 34/2025, the State Bank, Region 2 branch, recommends that relevant agencies continue to closely coordinate in gold market management, management of gold bar trading activities and production and trading of gold jewelry.
This agency also requires strengthening inspection and examination according to functions and tasks to ensure market discipline and order, especially during periods of strong market fluctuations and potential risks related to speculation, price inflation and profiteering.
At 10:00 a.m. on October 20, in Ho Chi Minh City, the price of SJC gold bars was listed by SJC and DOJI enterprises at VND150.0 million/tael for buying and VND151.0 million/tael for selling.
The price of gold rings at SJC is 148.0 - 150.2 million VND/tael (buy - sell), at DOJI is 149.9 - 150.9 million VND/tael (buy - sell).
