Global gold prices on February 2 continued their steep downward trend, trading around 4,278.5 USD per ounce. Domestically, prices of SJC gold bars and SJC gold rings also continued to “plunge” in line with global developments, trading at 163 million VND per tael and 166 million VND per tael, respectively.

On 28 January, both domestic and global gold prices surged sharply, surpassing all previously recorded records. During the morning session, the price of SJC gold bars in Vietnam rose by 4.1 million VND per tael and continued to increase by a further 2.8 million VND in the afternoon, pushing prices up to 184.2 million VND per tael — the highest level ever recorded.

Global gold prices on January 16 slipped below 4,608 USD per ounce as strong inflows into equities cooled demand for gold. In Viet Nam, prices were temporarily steady as SJC bullion was traded at 162.8 million VND per tael, while SJC ring gold remained unchanged at 159.7 million VND per tael.