At the end of the recent trading session, the domestic gold market maintained a downward trend. Today (July 1), domestic gold bars and gold rings decreased by at least 600,000 VND/tael. Compared to the same time a month ago, domestic gold bar prices have decreased by about 12.1 million VND/tael in both buying and selling directions.
At some gold shops on Cau Giay street (Hanoi), the number of customers coming to transact is bustling at each time frame. Customers do not need to queue, transaction time is shortened.
According to reporters' records, the number of people coming to transact is stable and open. Mr. Vu Tri Nhat (Nghia Do ward, Hanoi) - said: "My wife and I wanted to buy 2 taels of gold but only brought cash, now the store announces that we can buy in this form under 20 million VND/tael, I have to return to find another way. I also just went to withdraw cash from the bank, now the store guides me to go out and transfer money to the bank".
According to Mr. Nhat, up to this point, after 4 months, the regulation that buying gold from 20 million VND must be transferred still causes difficulties for the elderly.
Not everyone knows this information, so old people like us have to go back and forth many times if we need to buy. People who buy regularly will know, but like us two, today, we don't know at all" - Mr. Nhat shared.
As for many young people, the new regulation on buying gold bars as income subject to tax makes them more worried.
However, according to the Ministry of Finance, the understanding from July 1st that all gold bar trading activities will be subject to personal income tax at a tax rate of 0.1% on the value of each transfer is not accurate.
The Law on Personal Income Tax No. 109/2025/QH15 was passed by the 15th National Assembly at the 10th session, taking effect from July 1, which stipulates that income from the transfer of gold bars is taxable income.
However, the Law assigns the Government to stipulate the threshold of taxable gold bar value, the time of application and adjust the personal income tax rate for gold bar transfer in accordance with the gold market management roadmap.
Ms. Tran Phuong Mai (My Dinh ward, Hanoi) shared: "I have read information that buying gold will be subject to personal income tax, so I will prioritize the form of buying in cash, under 20 million VND/time".
For Ms. Mai, buying gold is not for the purpose of surfing or taking profits from price differences, but is a form of accumulation for long-term goals, so paying personal income tax needs to be further calculated.
Besides those who need to buy, the number of customers coming to sell at the store is at number 15. Mr. Dinh Quang Tung (Lang ward, Hanoi) - said: "I just entered the store and was immediately allowed to transact. I have 3 taels of plain round gold rings of the brand I want to sell. I have switched to another means of transportation, so I need more to complete before the car sets off.
Gold price update
As of 12:00 on July 1st, SJC gold bar prices were listed at the level of 143.4 - 146.4 million VND/tael (buying - selling), both down 600,000 VND/tael in both buying and selling directions.
Bao Tin Minh Chau listed SJC gold bar prices at the threshold of 142.5 - 146.4 million VND/tael (buying - selling), down 500,000 VND/tael and 600,000 VND/tael respectively.
At the same time as the survey, SJC plain round gold ring prices tended to decrease, listed at the threshold of 143.3 - 146.3 million VND/tael (buying - selling), down 600,000 VND/tael in both directions.
Bao Tin Minh Chau listed the price of gold rings equal to the price of brand gold bars, currently at the threshold of 142.5 - 146 million VND/tael (buying - selling).
On the world market, as of 12:00 on July 1 (Vietnam time), world gold prices diễn biến in a downward direction, listed around the threshold of 3, 972.2 USD/ounce, down 34.8 USD.
