CaliToday (31/8/2025): The domestic gold market in Vietnam is experiencing an unprecedented price fever as the price for SJC-branded gold bars has shattered all previous records, surging past the historic milestone of VND 130 million per tael. This dramatic spike is creating significant waves in the nation's economy, reflecting both global market trends and growing domestic anxiety over inflation and economic volatility.
The surge represents a landmark moment for the Vietnamese gold market. SJC gold bars, the state-recognized brand, are the preferred form of physical gold investment for many Vietnamese citizens. A tael, the traditional unit of measurement for precious metals in the region, is equivalent to approximately 37.5 grams or about 1.2 troy ounces. Reaching this new price ceiling indicates a powerful bull run, fueled by a potent combination of external pressures and internal demand.
Market analysts attribute the sharp upward trajectory to two primary drivers. Firstly, the domestic price is heavily influenced by the rising price of gold on the global market, which has been climbing due to international geopolitical uncertainty and shifts in monetary policy. As global prices rise, the domestic market adjusts accordingly.
Secondly, and more critically for the local situation, there is a sharp increase in domestic demand for gold as a safe-haven asset. Amidst a backdrop of economic fluctuations and rising inflation concerns, Vietnamese citizens are increasingly turning to gold to store their wealth. This practice, a long-standing tradition in Vietnam, intensifies during periods of uncertainty, as people seek to protect their savings from the eroding purchasing power of the local currency, the Vietnamese Dong (VND).
The record-breaking price of SJC gold is more than just a market statistic; it is a clear indicator of the current economic sentiment within Vietnam. The rush to accumulate gold highlights public concern about the stability of other investment channels and the overall inflationary pressures facing the economy. This trend will be closely watched by policymakers as it reflects the deep-seated financial anxieties of the populace.
