On the morning of 6/6, Saigon Jewelry Company (SJC) reduced gold bar prices by VND 3 million compared to late yesterday, setting them at VND 146,2 - 150,2 million per tael. This price now shows a disparity of nearly VND 13 million with global rates.
This marks the lowest price for gold bars since 21/11/2025. Each tael has dropped by nearly VND 41 million from its peak on 2/3.
SJC also decreased the price of plain gold rings by VND 3 million, bringing them to VND 146 - 150 million per tael. Other prominent brands, including PNJ, DOJI, Bao Tin Minh Chau, and Bao Tin Manh Hai, are trading gold rings at similar levels, around VND 146,2 - 150,2 million.
Domestic gold prices mirror the downward trend in international markets. At the close of trading on 5/6, the price of world gold fell by USD 146 per ounce compared to the previous day, reaching USD 4,328, its lowest point since 24/4.
The global gold market cooled following a stronger-than-expected US May jobs report, which reinforced the likelihood of the Federal Reserve (Fed) maintaining high interest rates for an extended period. Global inflation concerns are also rising due to the Middle East conflict.
US government bond yields also accelerated after the jobs report. This development further increases the opportunity cost of holding non-interest-bearing assets such as gold.
Regarding domestic policies, on 4/6, the Ministry of Finance stated that there are insufficient grounds to apply personal income tax to gold bar transactions, as it awaits approval from competent authorities for a proposed trading floor. The State Bank of Vietnam commented that specific guidance on this matter is necessary to enhance transparency and improve gold market management.
The Personal Income Tax Law 2025 stipulates that income from gold bar transfers is subject to a 0,1% tax rate on each transaction's buying and selling price. The government will establish the value threshold for taxable gold bars, the implementation timeline, and any adjustments to the tax rate.
Silver bar and ingot prices decreased by 7% this morning compared to yesterday. Phu Quy and DOJI are listing this metal at approximately VND 2,56 - 2,65 million per tael, equivalent to VND 68,4 - 70,5 million per kilogram. Ancarat is trading silver around VND 2,58 - 2,66 million per tael.
Trong Hieu
