HCMC — Gold prices in Vietnam fell sharply on Wednesday morning after hitting a record high a day earlier.
At 9:30 a.m. on October 22, Saigon Jewelry Company (SJC) and DOJI Group listed SJC gold bars at VND146.5 million per tael for buying and VND148.5 million for selling, according to the local gold price website at bieudogiavang.vn. The spread between buying and selling prices widened to VND2 million. Compared to Tuesday’s close, the buying price dropped VND5 million and the selling price fell VND4 million per tael.
Bao Tin Minh Chau quoted the yellow metal at VND147 million to VND148.5 million per tael, down VND5 million and VND4 million, respectively. Phu Quy Group listed its prices at VND146 million and VND148.5 million per tael, down nearly VND5 million from the previous day.
Asia Commercial Joint Stock Bank (ACB) offered similar rates, with buying at VND146.5 million and selling at VND148.5 million per tael.
Gold rings also declined steeply, by VND3-5 million per tael. SJC listed them at VND145.5-148 million, while Phu Quy quoted VND145.5-148.5 million. Bao Tin Minh Chau priced its ring gold at VND153.5-156.5 million per tael, down VND3 million on both sides.
Globally, gold recorded its biggest single-day drop in more than five years on October 21, according to the Vietnam News Agency. Spot gold fell 5.5% to US$4,115 per ounce, while December 2025 futures closed down 5.7% at US$4,109.1 per ounce.
The decline came a day after gold prices hit a record high of US$4,381.21 per ounce, up about 60% since the start of the year.
