Vietnam’s gold price surges to record high of $5,470 per tael

The sharp increase came as global gold prices surged to $4,075.7 per ounce, up $57.3 compared to last week.

Based on the current exchange rate quoted by local banks, the international gold price is equivalent to VND129.6 million ($4,919) per tael.

A tael is equal to 37.5 grams.

Domestically, SJC gold prices rose VND1.3 million ($49.3) per tael on Monday from the previous session, with selling prices hitting VND144.1 million and buying prices at VND142.1 million ($5,394) per tael.

In fewer than two weeks, SJC gold has increased VND9.1 million ($345.5) per tael.

The prices of SJC-branded 9999 gold rings also climbed VND1.7 million ($64.5) to VND141.2 million ($5,360) per tael for selling and VND138.5 million ($5,258) for buying.

Compared to global gold prices, SJC gold bars traded at a premium of VND14.5 million ($551) per tael, while 9999 gold rings were VND11.6 million ($440) per tael higher.

The global gold price gained after U.S. President Donald Trump threatened tariff hikes on China and the SPDR Gold Trust.

Global gold prices have risen for eight consecutive weeks, showing no clear signs of correction despite growing concerns over a potential pullback.

Many analysts believe the uptrend remains strong and a new price peak could still form.

According to the World Gold Council, gold investment demand via exchange-traded funds (ETFs) surged by a record 221.7 metric tons in the third quarter of the year, adding nearly $26 billion to the market.

Silver prices hit all-time high alongside gold

Silver prices in Vietnam have also soared sharply in tandem with gold.

At Sacombank Jewelry Company, silver items sold for VND2.037 million ($77.3) per tael on Monday afternoon, marking the highest ever recorded.

The buying price was listed at VND1.992 million ($75.6) per tael.

At Phu Quy Jewelry, silver was priced at VND2.032 million ($77.1) per tael for selling and at VND1.971 million ($75) for buying.

Since the start of 2025, silver prices have more than doubled from VND950,000 ($36) per tael.