HCMC – Gold prices in Vietnam continued to surge to new highs on the morning of January 26, tracking a strong rally in global markets.
Saigon Jewelry Company (SJC) raised prices of its SJC-branded gold bars by VND2.2 million per tael, quoting buying and selling prices at VND174.6 million and VND176.5 million, respectively. ACB increased its buying price by VND3 million to VND174.5 million per tael, while its selling price rose by VND2.8 million to VND176.5 million. Phu Quy Jewelry also lifted its buying price by VND2.3 million to VND173.8 million and its selling price by VND2.2 million to VND176.5 million.
Over the past seven days, SJC-branded gold bars have gained a total of VND11.5 million per tael, repeatedly setting new records.
Gold ring prices also rose sharply, up around VND2.5 million per tael. Phu Quy quoted buying and selling prices at VND173 million and VND176 million, respectively, while SJC listed VND173 million for buying and VND175.6 million for selling.
On the global market, gold jumped US$99 per ounce to US$5,084, surpassing the US$5,000 mark. Heightened geopolitical concerns continued to fuel safe-haven demand, pushing prices to new highs.
Notably, silver prices also climbed to record levels. Phu Quy raised silver prices by VND5.2 million per kilogram, quoting VND108.639 million for buying and nearly VND112 million for selling. Prices of silver by the tael increased by VND180,000–200,000 to VND4.057 million for buying and VND4.182 million for selling.
Globally, silver rose more than US$5 per ounce to nearly US$108.6 after breaking above the level of US$100 per ounce late last week. The metal has surged nearly 50% so far this month and more than 185% since the rally began in the second half of last year.
On the same morning, the U.S. dollar weakened in the domestic market. The State Bank of Vietnam (SBV) set the central exchange rate at VND25,113 per dollar, down VND12 from the end of last week.
Commercial banks also trimmed dollar prices. Vietcombank lowered its buying rate by VND13 to VND26,048 while keeping the selling rate at VND26,368. ACB reduced its buying rate by VND10 to VND26,060 and its selling rate by VND13 to VND26,368.
