Vietnam Gold Prices Hold Steady at VND 143.5 Million per Tael

On October 5, gold prices in Vietnam remained elevated, with domestic markets pricing the precious metal at VND 143.5 million per tael. This surge in demand was primarily driven by geopolitical factors, coupled with a global uptick in gold prices, which saw support around $4,150 an ounce. The rise in domestic prices came despite a slight rebound in international gold prices, as Vietnam’s gold market continues to trade at a premium over global rates.

In Vietnam, gold bar prices were listed at approximately VND 140.5 million per tael for buying and VND 143.5 million per tael for selling. The stability in domestic rates contrasts with the international market, where spot gold traded between US$4,150 and $4,160 an ounce. This rebound in global prices was underpinned by fading expectations of a Federal Reserve rate hike in October, following softer-than-expected US jobs data.

The prices for major gold brands in Vietnam also reflected the elevated demand, with SJC, DOJI, and PNJ each listed at VND 140.5 million per tael. Other notable brands like Phú Quý, Bảo Tín Mạnh Hải (BTMH), and Bảo Tín Minh Châu (BTMC) saw slightly lower prices, ranging from VND 139.6 million to VND 140.3 million per tael.

Buyers in Vietnam were advised to compare rates across different cities and jewellers, as prices can vary significantly. Additionally, it was recommended to account for taxes, premiums, and other charges when making purchases, as these can affect the final price. Verifying purity and hallmarking, along with staggering purchases to avoid day-to-day price swings, were also highlighted as key considerations for potential buyers.