On the morning of 28/1, Saigon Jewelry Company (SJC) listed gold bar prices at 178.1 - 180.6 million dong, an increase of 2.8 million dong for purchases and 3.3 million dong for sales compared to yesterday's close. Plain rings at SJC also neared gold bar prices, listed at 177 - 180 million dong per tael. Other major retailers also saw increases: Mi Hong bought and sold plain rings at 178.6 - 180.6 million dong per tael, while DOJI Gold & Gems Group raised plain ring prices to 177.2 - 180.2 million dong per tael.

This surge means each tael of gold has increased by approximately 10 million dong in the past one week, a 6% rise. Compared to the beginning of the month, a tael of gold is 27 million dong higher, representing a 27% increase. Domestic gold prices mirror international market trends, where each ounce of spot gold quickly increased, setting a new record above 5,200 USD. When converted at Vietcombank's selling exchange rate, the difference between domestic and international gold prices currently hovers around 15 million dong per tael.

Gold bars at SJC headquarters in District 3, 3/2025. Photo: Quynh Tran

Silver prices also continued to rise rapidly this morning, establishing new records. In just one week, this precious metal increased by nearly 20%, and compared to the beginning of the month, the increase recorded was over 50%. Phu Quy Gold Investment Joint Stock Company raised silver bar prices to 4.29 - 4.4 million dong per tael, equivalent to about 114 - 118 million dong per kg. At Sacombank - SBJ, silver bars rose to 4.36 - 4.47 million dong per tael, equivalent to 116.3 - 119.2 million dong per kg.

The soaring prices have created significant challenges for consumers. People wishing to purchase gold from major brands such as SJC and Mi Hong must queue early, as purchase quantities are very limited. Customers report difficulties ordering gold bars online via websites. Furthermore, plain gold rings are restricted to a maximum of one chi per day, and customers often need to obtain a queue number from early morning.

The silver bar market faces similar challenges, with strong buying demand overwhelming the production capacity of suppliers like Phu Quy and Sacombank - SBJ. This has resulted in long queues. Buyers pay upfront and receive a delivery slip for silver bars after three to six months.

Quynh Trang