Vietnam's Gold Prices Drop Despite Rising World Prices

On August 5th, 2026, gold prices in Vietnam saw an unusual development. While world gold prices rose by $27 per ounce to $4,079 per ounce, many domestic brands reduced their selling prices or kept them unchanged.

The State Jewellery Company (SJC) and Doji both lowered their selling prices by 500,000 VND/ounce but maintained their buying prices. However, Bao Tin Manh Hai (BTMH) bucked the trend by increasing its buying and selling prices by 300,000 VND/ounce.

Other brands, such as BTMC VRTL, maintained their highest selling price at 142 million VND/ounce. Meanwhile, Phu Quy SJC lowered its selling price by 500,000 VND/ounce to 140.5 million VND/ounce, while PNJ increased its buying price but sharply decreased its selling price.

The contrasting movements between the two markets could be due to several factors, including domestic gold prices not always reacting immediately to every fluctuation in the international market, and businesses prioritizing narrowing the buy-sell spread.