CaliToday (10/9/2025): Vietnam's key economic indicators showed notable movements on Tuesday, September 9, 2025, as the domestic price of SJC gold bars softened on the open market, and commercial banks continued to adjust their interest rates in response to prevailing market conditions. These developments are being closely watched by investors as they reflect the ongoing efforts by the nation's financial authorities to maintain macroeconomic stability.
SJC Gold Premium Shrinks with Price Dip
In the late trading hours of Tuesday, the price for SJC-branded gold bars on the open market experienced a slight decrease. While the dip was modest, its primary significance lies in the narrowing of the price gap between the unofficial market and the official selling price listed by the state-owned Saigon Jewelry Company (SJC).
For years, a significant premium has existed for SJC gold bars—the only brand legally permitted for trading as gold bullion in Vietnam—compared to both other domestic gold products and international prices. This disparity has been a point of concern for regulators, and the government, through the State Bank of Vietnam (SBV), has implemented various measures to stabilize the market and reduce this gap. The recent price adjustment, which brings the open market price closer to the official SJC benchmark, will be seen as a positive step towards achieving that goal. Market analysts suggest this move could reflect a cooling of speculative demand and improved market confidence in the government's management policies.
Commercial Banks Adjust Deposit Interest Rates
In a parallel development within the financial sector, Vietnam's commercial banks are proceeding with adjustments to their deposit interest rates. This ongoing trend is aligned with the general direction of the market and the broader monetary policy signals from the State Bank of Vietnam.
These adjustments to savings rates are a critical tool for managing liquidity in the economy, controlling inflation, and influencing credit growth. When banks lower deposit rates, it can disincentivize saving and encourage consumers and businesses to spend or invest, thereby stimulating economic activity. Conversely, raising rates can help curb inflation by making saving more attractive.
The current wave of adjustments indicates that financial institutions are actively responding to the SBV's policy stance, aiming to strike a balance between ensuring economic growth and maintaining financial stability. This trend directly impacts millions of savers and borrowers across the country and is a key indicator of the health and direction of Vietnam's banking system.
Together, the movements in the gold market and the banking sector paint a picture of an economy under active management, with authorities keenly focused on stabilizing key markets and guiding financial policy to support sustainable growth.
