Saigon Jewelry Company gold bar price rose another 0.35% to VND145.4 million (US$5,526.62) per tael after climbing 4.7% earlier in the session, bringing gains for the day to 5.05%.
Local prices are still down roughly 3% so far this week and around VND11.5 million per tael higher than global rates.
Gold ring price saw a 5.06% increase on Friday to VND145.3 million per tael. A tael equals 37.5 grams or 1.2 ounces.
As prices had plunged earlier this week, many people were seen queuing up to sell gold at the SJC store in HCMC’s Ban Co Ward on Friday, aiming to cash out on the rebound.
But there were also lines of customers waiting to buy 24K gold rings. A staff member said the store had run out of gold bars in the morning and only allowed each buyer to purchase up to one-tenth of a tael of gold rings in the afternoon.
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Customers waiting to trade gold at a store in Ban Co Ward, Ho Chi Minh City, on the afternoon of June 12, 2026. Photo by VnExpress/Quynh Trang |
Globally,gold prices fell on Friday and were set for a sharp weekly loss as traders assessed the outlook for a potential US-Iran deal to end the conflict, which has disrupted global markets and raised inflation concerns.
Spot gold was down 0.7% at $4,183.19 per ounce and was set for a weekly loss of 3.4%. U.S. gold futures for August delivery rose 2.2% to $4,204.40, Reuters reported.
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A person holds gold bars at a store in Ho Chi Minh City. Photo by VnExpress/Quynh Tran |
The metal earlier hit a more than six-month low on Thursday before closing higher after U.S. President Donald Trump called off planned military strikes on Iran and signaled an imminent peace deal. However, Iran countered that it had not reached a final decision on an agreement.
“After more than 30 similar announcements over the past couple of months, investors have become increasingly cautious about taking such signals at face value,” said Ole Hansen, head of commodity strategy at Danish lender Saxo Bank A/S, as quoted by Bloomberg.
Source:e.vnexpress.net
