Editor’s Note
This article reports that domestic gold bar prices for major brands remained stable, unchanged from the previous day.
The purchase and sale prices of gold bars from brands SJC, Bao Tin Manh Hai, PNJ, Bao Tin Minh Chau, DOJI, and Phu Quy all remained unchanged compared to yesterday morning, all staying at 179.3 million VND/ounce.
Gold ring prices today (February 9) remained stable for most brands; the highest listed price for sale was 179.3 million VND/ounce, equivalent to the price of gold bars. However, both the purchase and sale prices of Phu Quy gold rings decreased by 300,000 VND/ounce compared to yesterday morning.
Specifically, SJC listed the price for buying gold rings at 175.8 million VND/ounce and selling at 178.8 million VND/ounce (the same price in both directions as yesterday morning).
The Bao Tin Manh Hai brand’s purchase price for 999.9 pure gold rings is listed at 174.8 million VND/ounce, the same as yesterday morning.
Both DOJI and PNJ have a gold purchase rate of 176 million VND/ounce and a sale rate of 179 million VND/ounce in both currency segments (the same price as yesterday morning in both directions).
The Bao Tin Minh Chau brand’s gold ring price is between 176.3 – 179.3 million VND/ounce (purchase price – sale price), the same as yesterday morning’s price.
Phu Quy’s gold rings have a purchase price of 176 million VND/ounce and a sale price of 179 million VND/ounce (a decrease of 300,000 VND/ounce in both directions compared to yesterday morning).
In the global gold market, the spot gold price is listed at approximately $4,968 per ounce (equivalent to 157.1 million VND per tael at Vietcombank exchange rate, excluding taxes and fees).
Global gold prices have generally increased by $457.2 per ounce, equivalent to a 10.14% increase over the past 30 days.
Currently, the world gold price is about 22.2 million VND/ounce lower than the domestic gold price.
Globally, gold prices rose to $457.2 per ounce, equivalent to a 10.14% increase.
However, behind this volatility, many analysts believe the market is not weakening but undergoing a readjustment process.
Daily trading limits have expanded to levels rarely seen outside of crisis periods, and extreme volatility in silver has heightened the sense of turmoil in the market. Yet, this volatility comes after an extraordinary surge in prices. Gold has set more than 10 all-time highs in just a few weeks. From this perspective, the current correction and consolidation are not only expected but necessary.
Although prices have fallen from last week’s historic highs, the market appears to be gradually stabilizing and trading within the $4,500-$5,000 per ounce range. Despite the volatility, gold recorded a gain of about 1% for the week. Analysts say the recent sell-off does not reflect a structural change in gold’s long-term outlook. Rather, it indicates the market is unwinding excess speculative holdings after an overly bullish run.
Central banks continue to accumulate gold at record levels, and physical demand remains strong despite price fluctuations. Also, gold allocation in investment portfolios is relatively low, leaving room for greater participation by institutional investors should broader economic instability persist. This helps explain why optimistic forecasts have not diminished despite the downturn. Many major banks are still predicting that gold prices could reach $6,000 per ounce by year-end. These forecasts rely less on short-term price volatility and more on slow-moving structural factors, including rising public debt, fiscal imbalances, geopolitical risks, and dollar devaluation.
In this context, volatility can be understood as part of a correction process rather than a warning signal. Gold is reassessing risk in real-time, and this process is rarely smooth. While current market volatility may be concerning, it could also lay the foundation for a more sustainable rally—one based not just on speculative momentum but on broader participation.
Although gold may no longer have the status of a safe investment as before, the fundamental rationale remains unchanged for many long-term investors. This period of correction and stabilization is being viewed as a buying opportunity.
According to Reuters, oil prices rose slightly at the close of trading last week as investors worried that talks between the US and Iran were not enough to avert the threat of military conflict between the two countries.
Global oil prices are likely to increase this week.