On the morning of 19/1, Saigon Jewelry Company (SJC) listed gold bar prices at 163 - 165 million dong per tael, an increase of over 2 million dong per tael compared to last weekend. Other major brands followed suit, adjusting their SJC gold bar prices upward.

Plain gold rings also saw an increase this morning, with SJC raising prices to 159,7 - 162,2 million dong, over 2 million dong per tael higher than last weekend. At DOJI Gold & Gems Group, gold rings traded at 160 - 163 million dong per tael. Bao Tin Minh Chau listed gold ring prices at 161,5 - 164,5 million dong.

Since the beginning of this month, each tael of gold has gained about 12 million dong, representing a nearly 8% adjustment.

Domestic gold prices are consistently rising, mirroring global trends. On the international market, an ounce of gold hit a new record of over 4,660 USD on the first trading day of the week. Converted at Vietcombank's selling exchange rate, domestic gold bars currently command a premium of over 16.5 million dong per tael compared to the world price.

Gold bars at SJC headquarters. *Photo: Quynh Tran*

In its 2026 commodity outlook report, Goldman Sachs' commodity strategists identified gold as one of the key "bets".

The bank anticipates a downward adjustment to around 4,200 USD per ounce in Q1, followed by a recovery to over 4,400 USD in Q2. However, if individual investors join central banks in a diversification wave, global gold prices could surpass the 4,900 USD per ounce baseline by Q4.

Goldman Sachs attributes these projections to the geopolitical power race and artificial intelligence (AI) competition between the US and China, alongside global energy supply shifts. Additionally, gold's upward trajectory is expected to continue its momentum from this year, fueled by the US Federal Reserve (Fed)'s interest rate cuts and escalating tensions across various regions globally.

Quynh Trang