Five days after the Government's Decree No. 390/2026/ND-CP, amending and supplementing several provisions of Decree No. 24/2012 on gold trading management, which took effect on October 16, 2026, gold businesses have been strictly implementing the requirement for cashless payment on gold transactions totaling VND5 million (US$193 million) or more per day.
In Hanoi, major gold traders, including Bao Tin Minh Chau, Phu Quy Gold Investment Joint Stock Company, Bao Tin Manh Hai, and DOJI Group have posted notices and guided customers at their transaction counters along streets with a high concentration of gold shops, such as Tran Nhan Tong, Pho Hue, and Tran Hung Dao. At gold shops on Tran Nhan Tong Street, staff require customers to pay through bank accounts held in their own names, with account information matching their citizen identity cards or passports.
Payments from third-party accounts and certain e-wallets are not accepted. At one counter, some customers purchasing or selling small quantities of gold, such as a few grams of gold rings or gold bars, appeared surprised and confused because they were unfamiliar with the new regulations.
At 5 p.m. on October 20, Saigon Jewelry Company (SJC) raised its gold bar prices by VND600,000 per tael on both the buying and selling sides, quoting VND139.6 million per tael for buying and VND142.6 million for selling.
Meanwhile, Phu Nhuan Jewelry Company (PNJ) and Phu Quy Gold Investment Joint Stock Company lowered their prices by VND500,000–VND600,000 per tael on both sides, quoting buying prices of VND139 million–VND139.6 million per tael and a selling price of VND142.6 million. Prices of 9999 gold rings fell by VND500,000–VND900,000 per tael across businesses, with buying prices ranging from VND137.5 million to VND139 million per tael and selling prices from VND141.2 million to VND142 million.
A gold trading business in Ho Chi Minh City said the cashless payment requirement for transactions totaling VND5 million or more per day would help tighten control over cash flows in gold trading.
