Gold price sets new record after gold bar monopoly mechanism is abolished

SJC gold bar price sets new historical peak at 128 million VND/tael. Photo: Duy Hieu.

On the morning of August 27, Saigon Jewelry Company (SJC) listed the price of gold bars at 126 - 128 million VND/tael (buy - sell), an increase of 300,000 VND compared to the closing price of the previous session.

Other major domestic gold brands such as Phu Nhuan Jewelry Joint Stock Company (PNJ), DOJI Group, Phu Quy Group, Bao Tin Minh Chau, Bao Tin Manh Hai, Mi Hong Company... also simultaneously raised the selling price of gold bars to equal that of SJC, currently commonly traded around 128 million VND/tael.

This continues to be the highest selling price in the history of domestic gold bar trading and is the 11th time this item has broken its historical peak this year.

Notably, this development was recorded right after the Government issued Decree No. 232/2025 amending and supplementing a number of articles of Decree No. 24/2012 of the Government on the management of gold trading activities, including the content of eliminating the State monopoly mechanism on the production of gold bars, the export of raw gold and the import of raw gold to produce gold bars.

Not only did the price of gold bars hit a historic peak today, the price of plain round gold rings also recorded a strong upward trend and reached a new peak.

At SJC, the buying and selling price of 99.99 gold rings, type 1-5, continued to increase by only 300,000 VND compared to the closing price of the previous session, currently listed at 119.9 - 122.4 million/tael, which is also the highest price range that SJC gold rings have ever recorded.

The remaining gold trading enterprises such as PNJ, DOJI, Phu Quy... have also raised the selling price of gold rings to around 122.5-122.6 million VND/tael.

Bao Tin Minh Chau and Bao Tin Manh Hai alone increased their gold ring prices by VND200,000 this morning, to VND122.8 million/tael. This is the highest price on the market today, and also the highest in history for gold rings.

Currently, the world spot gold price is trading at 3,384 USD /ounce, down 8 USD (-0.24%) compared to when trading opened. Converted to Vietnamese currency (excluding taxes and fees), the world gold price is about 108 million VND/tael. This price is 20 million VND/tael lower than the price of SJC gold bars and about 15 million VND/tael lower than gold rings.

According to the newly issued Decree No. 232/2025, in addition to eliminating the State monopoly on gold bar production, the management agency also added regulations on gold purchase and sale payments. Accordingly, gold purchase and sale payments worth VND 20 million or more per day by a customer must be made through the customer's payment account and the payment account of the gold trading enterprise opened at a commercial bank or foreign bank branch.

The addition of the above regulation is to ensure the requirement of customer information authentication but does not create additional obligations for customers because authentication has been performed when customers open and use payment accounts at commercial banks and foreign bank branches. This regulation also aims to increase publicity and transparency in gold buying and selling transactions.

Source: https://baoquangninh.vn/gia-vang-lap-ky-luc-moi-sau-khi-xoa-bo-co-che-doc-quyen-vang-mieng-3373418.html