PNJ Gold Jewelry Prices: 99.99% Gold Closes September 28 at VND 141.8M per Tael

Overview

PNJ (Vàng Phú Nhuận, HOSE) listed 999.9 jewelry gold at VND 136.8 million per tael on the buy side and VND 141.8 million on the sell side at the September 28 close, according to the daily price table published by the company and peers. The quote sits mid-range among the four surveyed brands and leaves PNJ with one of the widest buy-sell spreads in the group, a direct input into retail jewelry margins.

Key Facts

• PNJ 999.9 jewelry gold: VND 136.8 million/tael buy, VND 141.8 million/tael sell, a VND 5.0 million spread.
• SJC 99.99% jewelry gold: VND 136.4 million buy, VND 140.9 million sell, the lowest sell quote in the survey.
• DOJI 9999 jewelry gold: VND 138.0 million buy, VND 142.0 million sell, the highest buy price and the tightest spread at VND 4.0 million.
• BTMC (Bảo Tín Minh Châu) Vàng Rồng Thăng Long 999.9: VND 137.5 million buy, VND 142.5 million sell, the highest sell quote.
• Sell-side range across the four brands: VND 140.9-142.5 million/tael, a VND 1.6 million gap.
• Versus early afternoon, DOJI cut VND 1 million on both sides and BTMC trimmed VND 400,000; SJC and PNJ left quotes unchanged.
• PNJ shares closed at VND 30,700 on HOSE on September 28.

What Happened

The price table, compiled from brand quotes updated through the September 28 close, shows 99.99% jewelry gold selling between VND 140.9 million and VND 142.5 million per tael. PNJ’s 999.9 product was unchanged from the 13:45 update at VND 136.8 million buy and VND 141.8 million sell. DOJI moved most, lowering both legs by VND 1 million, while BTMC adjusted down VND 400,000 and SJC held steady.

On the buy side, DOJI’s VND 138.0 million was the highest, ahead of BTMC by VND 500,000, PNJ by VND 1.2 million and SJC by VND 1.6 million. The article attributes the figures to the companies’ own end-of-day price boards rather than a regulatory filing, and no trading volumes or revenue figures were disclosed.

Market Context

PNJ trades on HOSE and closed at VND 30,700 on September 28. The company sits in the retail jewelry segment, where quoted gold prices feed directly into inventory valuation and the spread between buy and sell legs determines gross margin per tael. The VND 5.0 million PNJ spread, matching BTMC and wider than DOJI’s VND 4.0 million and SJC’s VND 4.5 million, indicates brands are not competing uniformly on buy-back pricing. The article notes this is the fourth consecutive daily price update tracked across SJC, PNJ, DOJI, BTMC and Phú Quý, with the September 28 session described as a sharp decline for gold bars and plain rings.

Strategic Significance

For PNJ, the relevant variable is not the absolute gold price but the spread and turnover of jewelry-grade product. A VND 5.0 million buy-sell gap on 999.9 jewelry gold supports per-unit margin, but it also widens the cost for customers recycling gold into PNJ, which can slow buy-back volumes that supply the company’s inventory. DOJI’s tighter VND 4.0 million spread and higher buy quote make it more competitive on the acquisition side, a dynamic worth tracking if PNJ’s jewelry volumes depend on recaptured metal. The unchanged PNJ quote through the afternoon, while DOJI and BTMC adjusted lower, suggests PNJ is prioritizing margin stability over volume defense in this session.

What to Watch

• PNJ’s next quarterly earnings release for jewelry segment revenue and gross margin per tael.
• Daily buy-sell spread trends for PNJ versus DOJI and BTMC, particularly whether PNJ narrows its VND 5.0 million gap.
• State Bank of Vietnam gold market policy announcements, which affect jewelry-grade supply and import quotas.
• PNJ share price reaction around the VND 30,700 close on HOSE, including foreign-ownership and block-trade filings.
• Whether the September 28 decline in gold bars and plain rings continues into subsequent sessions, as reported in the linked daily price updates.