Vietnam Gold Prices Rise: PNJ, SJC, DOJI Quotes on Aug 22

Overview

Domestic gold prices in Vietnam rose on the morning of August 22, with gold bars and plain gold rings trading at 144-148 million VND per tael across major retailers including PNJ, SJC, DOJI, and Bảo Tín Minh Châu. The increase follows a recovery in international gold prices above 4,600 USD/ounce, supported by a weaker US dollar and ongoing fiscal concerns. This move is relevant for PNJ (HOSE), a leading jewelry retailer whose margins are sensitive to gold price fluctuations.

Key Facts

• Gold bars at major retailers (SJC, DOJI, PNJ, Bảo Tín Minh Châu) were quoted at 144-147 million VND per tael on the morning of August 22.
• Plain gold rings traded at 146.5-148.0 million VND per tael for selling, with buying prices at 143.5-144 million VND per tael.
• SJC listed gold rings at 143.5-146.5 million VND per tael, while DOJI quoted 144-148 million VND per tael.
• Bảo Tín Minh Châu transacted gold rings at 144.1-148.1 million VND per tael.
• International spot gold recovered above 4,600 USD/ounce, up nearly 300 USD over the past week.
• The US dollar index fell below 99 points, supporting gold prices.
• US 10-year Treasury yields remained around 4.7%, with 30-year yields near 5.3%.

What Happened

On the morning of August 22, Vietnamese gold retailers adjusted their domestic gold prices upward, reflecting a rebound in international bullion prices. Gold bars were commonly quoted at 144-147 million VND per tael, while plain gold rings saw selling prices ranging from 146.5 to 148.0 million VND per tael, with some brands exceeding the 148 million VND mark. The price adjustments were consistent across major players, including SJC, DOJI, PNJ, and Bảo Tín Minh Châu, as reported in the source article.

International gold prices strengthened, trading above 4,600 USD/ounce, supported by a weaker US dollar and persistent fiscal concerns. According to Kitco News, spot gold and silver rose in late US trading on Friday, as the dollar weakened and safe-haven demand increased due to fiscal risks and uncertainties in the Strait of Hormuz, despite elevated US Treasury yields. The US dollar index fell below 99 points, further underpinning gold’s advance.

Market Context

PNJ (HOSE) closed at 39,900 VND on August 21, 2026, reflecting recent trading activity. The rise in domestic gold prices is part of a broader trend in the Vietnamese gold market, which often moves in tandem with international prices. The recovery in global gold prices, driven by a weaker dollar and fiscal concerns, has supported domestic prices. For PNJ, higher gold prices can impact consumer demand and inventory valuations, though the company’s retail margins may face pressure if input costs rise faster than selling prices. The broader Vietnamese market has been influenced by global commodity moves, with gold being a key asset for local investors.

Strategic Significance

For long-term investors, the sustained rise in gold prices highlights the importance of PNJ’s ability to manage gold price risk and maintain profitability. As a leading jewelry retailer, PNJ’s performance is closely tied to gold price trends and consumer sentiment. The current environment, characterized by a weaker dollar and fiscal uncertainties, may support continued gold price strength, benefiting PNJ’s revenue but also posing margin challenges. Investors should monitor PNJ’s hedging strategies and inventory management to assess its resilience in a high-gold-price environment.

What to Watch

• PNJ’s monthly sales and margin data for August, which will reflect the impact of higher gold prices on consumer demand.
• International gold price movements, particularly whether prices sustain above 4,600 USD/ounce.
• US dollar index trends and Federal Reserve policy signals, which could influence gold prices.
• PNJ’s quarterly earnings release for Q3 2026, expected in October, to assess profitability.
• Any changes in domestic gold import policies or regulations that could affect supply and pricing.