HANOI, VIETNAM – The price of Vietnam's state-branded SJC gold bars experienced a volatile trading day on Friday, August 15, 2025, surging to a new historic peak in the morning before pulling back slightly in the afternoon session due to profit-taking.
The domestic gold market was electrified this morning as strong buying pressure pushed the price for SJC-branded gold to a record high of over VND 124.7 million per tael. A tael is a traditional unit of weight used in the region, equivalent to approximately 37.5 grams or 1.2 troy ounces. This unprecedented surge created a feverish atmosphere among local investors, driven by a combination of domestic demand and reactions to global economic signals.
However, the rally cooled off as the day progressed. By late afternoon, the momentum had eased, and prices saw a modest retreat from the morning's peak. Major gold retailers and state-owned jewelry companies in Hanoi and Ho Chi Minh City adjusted their quotations, with the selling price for SJC gold bars settling at around VND 124.5 million per tael.
Market analysts attribute the afternoon dip primarily to investors cashing in on the new record. "It's a natural market correction," said a local financial expert. "After such a rapid and historic climb, it's expected that many who bought at lower levels would want to lock in their profits, which creates selling pressure."
The price of SJC gold in Vietnam is a focal point of the domestic economy. The state-owned Saigon Jewelry Company (SJC) brand is tightly regulated and trusted, causing its gold bars to trade at a significant and persistent premium over the international spot price for gold. This gap is a unique feature of the Vietnamese market, often attributed to strict government controls on the supply and import of gold bullion.
Despite the slight afternoon pullback, the price remains exceptionally high, reflecting strong underlying demand and a continued appetite for gold as a safe-haven asset among the Vietnamese population. Investors will be closely watching for further signals from both the global markets and domestic policy to gauge the direction of prices in the coming days.
