As we approach March 23, 2025, the gold market in Vietnam is set to continue its slight downward trend, primarily impacted by international market pressures and the stability of the US dollar. As of March 22, gold prices on the international market decreased to $3,024 per ounce, indicating a strong corrective movement following a record peak of $3,055 per ounce.
In Vietnam, regional disparities in gold prices are evident, with notable changes reported by various traders. For instance, the prices for gold bars offered by PNJ in Ho Chi Minh City (TPHCM) show a buying price of 95.7 million VND per tael (down 300,000 VND) and a selling price of 98.3 million VND (also down 200,000 VND). Similar price adjustments can be seen across major cities, including Hanoi and Da Nang, indicating a broader movement in the market.
Furthermore, the price dynamics have also reflected in the jewelry segment. For example, gold jewelry with a purity of 99.99 is listed at 9,410 thousand VND for buying and 9,790 thousand VND for selling, while 99.9 jewelry prices are at 9,400 thousand VND (buy) and 9,780 thousand VND (sell), showing a reduction of 50,000 VND across various types.
The pricing data also reveals the difference between buying and selling prices, which currently ranges from 2,500 to 3,000 thousand VND per tael for PNJ and SJC gold, indicating a stable profit margin. In the jewelry market, the difference between buying and selling remains between 300,000 and 380,000 VND, reaffirming the consistent strategy of maintaining profitable margins for retailers.
As for the economic backdrop, the USD/VND exchange rate is at 25,370 VND, decreasing by 20 VND from the previous data, further complicating market conditions. Such fluctuations in currency might contribute to ongoing volatility in gold prices as investors keep a close eye on both domestic and international economic signals.
Interestingly, the gold bar prices, especially SJC, reported an increase of 1.6 million VND per tael compared to the previous week. Similarly, the gold ring prices have surged between 1.2 and 2.1 million VND per tael. These upward trends in specific segments come in contrast to the overall bearish outlook on gold prices.
Experts have raised concerns about the sustainability of the recent high price levels for gold. They suggest that for the price of gold to continue rising, the market must confront further uncertainties, especially surrounding the global economy and the status of the US dollar. Historically, gold is perceived as a safe-haven asset during times of instability, but if economic conditions stabilize further, it may signal a downward adjustment in gold prices.
The global narrative surrounding gold has also been closely linked to geopolitical tensions and economic forecasts, which remains crucial for prospective investors. With the gold market indicating substantial reactions to macroeconomic changes, maintaining a vigilant approach to gold investments will be key.
In conclusion, while tomorrow’s gold prices may reflect some decline influenced by international market dynamics and currency stabilization, Vietnamese gold traders and consumers are advised to remain updated on global gold trends and economic factors. Such diligence can aid in making informed buying and selling decisions in this ever-evolving market landscape.
