Vietnam Gold Prices Rise 0.99% to VND143.2M/Tael; Global Gold Hits 7-Week High
This Aveluro analysis covers SJC on UPCOM in the Construction & Materials sector. The classified event type is commodity move, with positive sentiment and a deterministic market-impact score of 5.0/10. Aveluro classifies this story as a positive catalyst in the stock's news coverage. Source coverage came from VnExpress International - Business, classified as a primary/top-tier source.
Key Facts
Caveat: Not investment advice. · How Aveluro computed this: Aveluro combines extracted event facts, source credibility, ticker context, and market data. Scores are deterministic research signals, not recommendations.
Overview
Gold prices in Vietnam increased 0.99% to VND143.2 million per tael, according to the Saigon Jewelry Company (SJC). This follows a global rally that pushed spot gold to its highest level in seven weeks, driven by a weaker US dollar and falling Treasury yields. The move underscores gold’s continued appeal as a safe-haven asset amid geopolitical and macroeconomic shifts.
Key Facts
- SJC gold bar price rose 0.99% to VND143.2 million per tael (37.5 grams or 1.2 ounces).
- Gold ring price remained unchanged at VND144.2 million per tael.
- Vietnamese gold prices have fallen 6.3% so far in 2025.
- Global spot gold was up 0.5% at $4,265.22 per ounce, hitting its highest level since June 18.
- Wednesday saw bullion’s biggest daily gain since February.
- IG market analyst Tony Sycamore noted that a sustained break above the 200-day moving average could lead to a recovery toward $5,000.
What Happened
Domestic gold prices in Vietnam rose on Thursday, with SJC gold bars climbing 0.99% to VND143.2 million per tael. The increase aligns with a global uptrend, as spot gold advanced for a fourth consecutive session, touching a seven-week high. The rally was supported by a softer US dollar and lower Treasury yields, alongside growing optimism over the reopening of the Strait of Hormuz, which could ease oil prices and reduce the need for central bank rate hikes.
According to Reuters, IG market analyst Tony Sycamore highlighted that the sharp rally came on building optimism about a diplomatic breakthrough in the Middle East. He added that a sustained break above the 200-day moving average could pave the way for a stronger recovery toward the $5,000 mark. The domestic market reflected these global cues, though gold ring prices remained flat.
Market Context
SJC, listed on the UPCOM exchange, is primarily a construction and materials company, not a gold trader; the ticker is often used as a proxy for gold price movements in Vietnam. The recent price action in gold comes after a period of decline, with domestic prices down 6.3% year-to-date. Globally, gold’s rally to a seven-week high signals renewed investor interest, but the sustainability of this trend depends on macroeconomic factors such as US monetary policy and geopolitical developments.
Strategic Significance
For long-term investors, the rise in gold prices highlights the ongoing demand for safe-haven assets amid global uncertainties. The potential for gold to break above the $5,000 level, as suggested by analysts, could have significant implications for gold-related investments in Vietnam. However, the domestic market’s divergence from global trends, as seen in the unchanged ring price, suggests that local factors also play a role. Investors should monitor whether the global rally translates into sustained domestic price increases.
What to Watch
- Global spot gold’s ability to sustain levels above the 200-day moving average.
- Further developments in Middle East diplomacy, particularly regarding the Strait of Hormuz.
- US dollar index and Treasury yield movements.
- Domestic gold price adjustments in the coming sessions, especially for SJC gold bars.
- Any policy changes by the State Bank of Vietnam regarding gold market management.