Saigon Jewelry Company raised the prices of 9999 gold rings and SJC gold bars by up to VND1.3 million per tael.
At approximately 9:30 a.m. on January 2, SJC and PNJ increased the buying price of SJC gold bars by VND1.3 million and the selling price by VND800,000 compared to the previous day, listing prices at VND83.5 million per tael for buying and VND85 million for selling.
Phu Quy Group and Bao Tin Minh Chau adjusted SJC gold prices, raising the buying price by VND1.1–1.2 million and the selling price by VND800,000. Their listings stood at VND83.3–83.6 million per tael for buying and VND85 million for selling.
Prices for 9999 gold rings also experienced a sharp increase. SJC raised the buying price by VND1.3 million and the selling price by VND800,000, listing at VND83.5 million per tael for buying and VND84.8 million for selling.
Bao Tin Minh Chau increased 9999 gold prices by VND1.1 million for buying and VND600,000 for selling, with listings at VND83.7 million per tael for buying and VND84.8 million for selling.
Phu Quy Group raised the buying price by VND900,000 and the selling price by VND500,000, with listings at VND83.9 million per tael for buying and VND85 million for selling.
PNJ also adjusted its prices to VND83.9 million per tael for buying and VND85 million for selling, reflecting increases of VND500,000 for buying and VND800,000 for selling.
The global gold market is currently closed for the New Year holiday, but spot gold prices on the Kitco platform in the Asian market have risen to $2,635 an ounce, up by more than $11 compared to the closing price in New York before the holiday. After conversion, this price is equivalent to around VND81.1 million per tael, which is approximately VND3.9 million lower than the prices of SJC gold and 9999 gold rings in Vietnam.
Investors in the global gold market are uncertain about the price trend at the start of the new year, particularly with Donald Trump's return to the White House on January 20. Many experts believe his election victory has shifted market expectations significantly.
The World Gold Council (WGC) forecasts that, barring any major disruptions, gold prices in 2025 will rise more slowly than in the previous year, which saw the best performance in over a decade, with a 27 percent increase in 2024. Investors are closely watching US monetary policy, inflation trends, and global geopolitical tensions to guide their buying and selling decisions.
Major financial institutions, including Bank of America, Goldman Sachs, and UOB, continue to predict that gold prices could reach $3,000 an ounce in 2025.
