HCMC – Domestic gold prices continued their downward trend on the morning of March 15, with major brands listing gold bars at between VND180 and VND183 million per tael following a week of high volatility.
This decline comes as global gold prices retreated toward the US$5,000 per ounce mark, while the persistent domestic-international price gap continues to expose investors to significant risks.
According to updates at 8:45 a.m., SJC gold bars were traded at around VND179.6 million for buying and VND182.6 million for selling, a sharp drop of approximately VND2.2 million from the previous session on March 14. Similarly, Bao Tin Minh Chau listed its rates at VND180 million (buying) and VND183 million (selling), while DOJI’s prices fluctuated near VND179.65 million and VND182.7 million per tael. Other brands including Mi Hong, PNJ, and Phu Quy also adjusted their quotes to the VND179-183 million range. The buy-sell spread remains wide at VND2 to 3 million, reflecting a cautious stance among gold businesses amid market turbulence.
In the gold ring and jewelry segment, prices followed the slump of SJC, with 24K gold rings falling to around VND179.3 million for buying and VND182.3 million for selling. On the global market, spot gold closed the week at US$5,017.7 per ounce, down US$76 from the previous session and marking its second consecutive weekly loss.
Economists observe that gold in Vietnam has recently shifted from its traditional role as a defensive asset to a speculative one. The fear of missing out (FOMO) has led many to purchase gold at peak prices without fully assessing market risks. They warned that investors should avoid borrowing money or using financial leverage to buy gold when prices are high. When the market corrects, the double burden of interest payments and capital losses could lead to severe financial distress.
Furthermore, the State Bank of Vietnam is tightening gold market management policy to stabilize prices and narrow the gap with international rates. As supply improves or regulatory mechanisms change, domestic gold prices could face sharp adjustments. Given this environment, experts recommend that investors exercise caution, avoid herd mentality, and properly diversify their capital across different investment channels to mitigate risks.
