CaliToday (22/12/2025): The Vietnamese gold market witnessed a historic session today as domestic prices obliterated previous psychological barriers, surging to an unprecedented 157.5 million VND per tael (approximately $6,200 USD depending on exchange rates).
The new peak recorded this morning represents not just a fluctuation, but a significant structural shift in the local asset market, driven by a "perfect storm" of global macroeconomic anxiety and traditional year-end demand.
The "Safe Haven" Rush
Market analysts attribute this sharp vertical trajectory to two primary drivers:
Global Economic Headwinds: Continued instability in major global markets has reignited the appeal of gold as the ultimate defensive asset. With fiat currencies facing volatility, Vietnamese investors are pivoting aggressively to physical gold to hedge against inflation and external shocks.
Seasonal "Tet" Pressure: As the Lunar New Year approaches, the traditional demand for gold for hoarding, gifting, and settlement is peaking earlier than usual. This seasonal spike, combined with limited supply, has created a "pressure cooker" effect on prices.
Market Sentiment: "Panic Buying" vs. "Profit Taking"
On the streets of Hanoi’s Tran Nhan Tong and Ho Chi Minh City’s District 1, the atmosphere is tense. Long queues were reported at major gold houses like SJC and Bao Tin Minh Chau early this morning.
"The mentality right now is Fear of Missing Out (FOMO). People are seeing the 157 million mark not as a ceiling, but potentially as a new floor," noted Nguyen Van An, a senior commodities analyst at a Ho Chi Minh City-based securities firm.
However, the skyrocketing price also carries risks. The spread between buying and selling prices has widened, and the gap between Vietnamese domestic gold and the world spot price remains a critical point of concern for regulators.
The Outlook
With the 157.5 million VND milestone breached, all eyes are now on the State Bank of Vietnam (SBV) for potential intervention measures to cool the market. For now, gold remains the undisputed king of the Vietnamese investment portfolio in late 2025.