Gold prices in Vietnam have been a topic of concern as they appear to be unusually low compared to global prices. On August 24, the price of 4-nines gold rings from various companies increased significantly, surpassing the price of SJC gold bars by 1.5 to 2.5 million VND per tael. Major companies like SJC and Doji raised their SJC gold prices by 2.4 million VND, with buying prices reaching 147 million VND and selling prices at 150 million VND per tael. In contrast, the price of 4-nines gold rings surged by 2 to 3 million VND per tael, with Doji's prices reaching 152.5 million VND for selling.

This unusual trend raises questions about the pricing strategies of gold companies and whether they are deliberately keeping prices low. For instance, the price difference between the gold rings from smaller shops and those from larger companies can be as high as 6 to 8 million VND per tael, despite having the same quality. Some smaller shops are selling gold rings at prices lower than the global market by 1.3 to 2.3 million VND per tael.

As of now, the global gold price has increased by 38 USD per ounce, reaching 4,644 USD per ounce. When converted to the local currency, this translates to approximately 147.3 million VND per tael, excluding taxes and fees. However, SJC gold bars are priced 2.7 million VND higher than the global rate, while 4-nines gold rings from companies are priced 2.5 to 5 million VND higher.

Despite the increase in global prices, local gold prices have not risen correspondingly. Over the past month, while global gold prices increased by 510 USD per ounce, local prices only rose by 11 million VND, or about 7.9%. This discrepancy has left many investors, like Nguyen Anh from Ho Chi Minh City, feeling anxious about their investments. She noted that despite the global price increase, the local price remains significantly lower than what she paid a few months ago.

Market analysts suggest that the current low demand for gold in Vietnam is a significant factor contributing to the stagnant prices. Additionally, the market is experiencing a 'dry season' where cash flow is weak, making it difficult for local prices to keep up with global trends. The liquidity of SJC gold is high, while that of gold rings from smaller shops is considerably lower.

Experts predict that while global gold prices may rise in the long term, the local market will continue to face challenges due to supply, demand, and consumer sentiment. Investors are advised to be cautious, especially as regulatory measures continue to tighten in the gold market.