Saigon Jewelry Company (SJC) quoted its gold bar prices at about VND137.6-139.6 million per tael, up roughly VND1 million from the previous session, while SJC gold rings climbed to around VND136 million per tael. Other major retailers including DOJI, PNJ and Bao Tin Minh Chau moved in tandem with the rally, while Phu Quy Jewelry posted slightly lower quotes.

The domestic surge mirrored global gains, with spot gold hitting record levels amid strong safe-haven demand. Market participants pointed to a mix of drivers, including concerns over a US government funding standoff, a weaker JPY, and growing expectations of US Federal Reserve rate cuts, all typically supportive for non-yielding assets such as gold. Robust central-bank purchases and sustained investor inflows into gold ETFs also lent support.

Adding to global uncertainty, European discussions over the potential use of frozen Russian assets to fund Ukraine have further underscored geopolitical and financial-system risks, reinforcing the appeal of precious metals.

Some analysts, however, caution that the rally could pause if key political or demand-side conditions shift. For instance, a quick US funding resolution, de-escalation in Middle East tensions, or slower Chinese buying could ease upward pressure on prices. Investors are closely tracking central-bank signals, political developments and physical demand trends.

Domestic buyers continue to face a premium over international benchmarks as trading frictions and structural factors keep Vietnam’s prices above global spot levels. Short-term volatility is likely to persist while macroeconomic and geopolitical uncertainties remain.

Domestic gold prices reach new highs amid global market volatility

VOV.VN - Both gold ring and bar prices surged on April 17 in line with global trends, shattering previous records at VND120 million per tael.