Domestic gold prices surge, new regulations for gold purchases introduced.

Domestic gold prices surged, approaching 145 million VND per tael.

At the close of trading on October 13th, the domestic gold market witnessed a sharp increase in the price of SJC gold bars, setting a new record. Saigon Jewelry Company (SJC) listed the buying price at 142.1 million VND/ounce and the selling price at 144.1 million VND/ounce, an increase of 1.3 million VND/ounce compared to the previous session.

Not only gold bars, but also gold rings and 99.99% pure gold jewelry continued to rise in price, surpassing 140 million VND/ounce. The current buying price is 141 million VND/ounce, and the selling price is 144 million VND/ounce, 2.6 million VND/ounce higher than yesterday.

World gold prices rose in line with the USD.

Not only the domestic market, but also the global gold price is on a strong upward trend. As of 6:00 PM on October 13th, the spot gold price reached $4077.72 per ounce, an increase of approximately $64.91 compared to the previous session. At the current exchange rate, the global gold price is equivalent to 129.6 million VND per tael, showing a significant difference compared to the domestic gold price.

A notable development is the rise in gold prices, mirroring the rise in the US dollar. The USD Index (DXY) is currently at 98.9 points, its highest level since early August. Normally, a stronger USD would cause gold prices to fall, but amid increasing global instability, both safe-haven assets are favored by investors.

Tightening regulations on gold transactions, requiring payment via bank transfer.

Alongside price fluctuations, many domestic gold trading businesses have begun tightening payment procedures to comply with Decree 232/2025/ND-CP on gold market management.

Mi Hong Gold Company announces: all transactions of 20 million VND or more must be paid through the customer's and company's bank accounts. When making transactions, customers need to bring their Citizen Identity Card (CCCD) for verification as required.

According to a company representative, in recent days, many customers have been paying with cash but are required to transfer the money if the amount exceeds 20 million VND. However, smaller transactions, such as buying one SJC gold bar or gold ring, can still be paid for with cash.

Experts believe that the current rise in gold prices stems from risk aversion sentiment amid persistent inflation, financial instability, and geopolitical tensions.

With its current rate of increase, gold is proving to be a safe haven asset, although investors are advised to be cautious about the risk of price corrections when the market cools down.

Given this situation, financial experts offer advice. They state that the domestic gold price is nearly 15 million VND/ounce higher than the world gold price. At the same time, the difference between the buying and selling price of gold is also between 2 and 3 million VND. This means that those buying gold at the present time face the risk of short-term losses.

Furthermore, with the surge in demand for gold coupled with limited supply, the risk of counterfeit, low-quality, or illegally sourced gold is very high. Consumers are advised to be extremely vigilant to avoid purchasing such products.