On April 22, world gold prices hit a historic peak when they skyrocketed to 3,500.05 USD/ounce. At that time, the domestic price of SJC gold bars was at 119-121 million VND/tael (buy - sell). The difference between buying and selling prices is at 2 million VND/tael. Gold rings are around 117-120 million VND/tael (buy - sell). The difference between buying and selling prices is at 3 million VND/tael.
After that, the gold market was shaken strongly by a series of economic and geopolitical information in the world. From a record of more than 3,500 USD/ounce on April 22, gold prices in May adjusted down sharply, sometimes losing the 3,120 USD/ounce mark.
On May 15, world gold prices fell sharply to around 3,173.1 USD/ounce. The global decline has led to a domestic market, but with a narrower range. SJC gold bars decreased to 117.4-1194 million VND/tael (buy - sell), while the price of 9999 round gold rings was listed around 112-115 million VND/tael (buy - sell).
Since then, despite many fluctuations, the precious metals market has clearly demonstrated its safe-haven role in a volatile environment. At the end of the trading session on August 30, world gold was listed at 3,446.5 USD/ounce and experts said it was likely to soon reach the peak in April.
Notably, the domestic market seems to be much more excited. Compared to April, world gold prices have decreased by about 1.53%. However, domestic gold recorded a breakthrough increase, gold bars increased by more than 7.9%, while gold rings increased by about 4.5%.
Currently, the price of SJC gold bars is listed at 128.6-130.6 million VND/tael (buy in - sell out). Gold rings are listed around 122.4-125.4 million VND/tael (buy in - sell out).
Notably, on August 26, the Government announced Decree 232/2025/ND-CP, ending the monopoly mechanism in the production of gold bars, export and import of raw gold. This is considered a strategic turning point in the process of restructuring the gold market, expected to gradually reduce the gap between domestic gold prices and the world.
The above information does not cause domestic gold prices to have a downward correction. The gap between the domestic and world gold markets is still high, up to more than 21 million VND/tael.
Speaking to Lao Dong reporter, Mr. Nguyen Quang Huy, CEO of the Faculty of Finance - Banking (Nguyen Trai University) said that the policy has opened a new roadmap, but the market is reacting mainly based on psychology and expectations.
According to Mr. Huy, the removal of monopoly and permission of commercial banks to participate in the production of gold bars is of strategic significance, helping to increase competitiveness, diversify supply and move towards a more stable market.
However, these impacts are not immediate. The licensing of production, the construction of production lines, the organization of supervision and especially the building of social trust takes a period of time. During this period, the market sentiment of " rare gold - price will increase" is still strongly dominated, leading to escalating prices and widespread buying - selling gaps.
The new policy has opened a positive direction, but success or failure will depend on implementation and social trust. When trust is established, the market will gradually stabilize, the gap with the world will be narrowed sustainably" - Mr. Huy said.
