Editor’s Note
This article reports a significant drop in domestic gold bar prices on February 3, with major brands lowering rates by approximately 6 million VND per tael. The table provides a detailed comparison of the buying and selling prices from the previous morning’s session.
Today (February 3), the price of gold bars saw a sharp decline compared to yesterday morning’s trading session.
Brands such as SJC, Bao Tin Minh Chau, DOJI, PNJ, Bao Tin Minh Chau, and Phu Quy listed prices for buying and selling gold bars at 163-166 million VND/tael, a drop of 6 million VND/tael in both directions.
The price of gold bars in Vietnam, updated this morning, February 3, is as follows:
| Brand | Buy (Feb 2 AM) | Sell (Feb 2 AM) | Buy (Feb 3 AM) | Sell (Feb 3 AM) | Difference (Buy) | Difference (Sell) |
| :— | :— | :— | :— | :— | :— | :— |
| SJC | 169 | 172 | 163 | 166 | -6,000 | -6,000 |
| Bao Tin Minh Chau | 169 | 172 | 163 | 166 | -6,000 | -6,000 |
| DOJI | 169 | 172 | 163 | 166 | -6,000 | -6,000 |
| PNJ | 169 | 172 | 163 | 166 | -6,000 | -6,000 |
| Bao Tin Minh Chau | 169 | 172 | 163 | 166 | -6,000 | -6,000 |
| Phu Quy SJC | 169 | 172 | 163 | 166 | -6,000 | -6,000 |
*Unit: Million VND/tael (Thousand VND/tael)*
Similar to gold bars, the price of gold rings also saw a sharp decline today compared to yesterday in both directions.
Specifically, SJC listed the price for buying and selling gold rings at 162.5 – 165.5 million VND/tael, a drop of 5.5 million VND/tael in both directions.
The Bao Tin Minh Chau brand listed the purchase price for 9999 pure gold rings at 163 million VND/tael, a decrease of 5 million VND/tael.
DOJI and PNJ brand gold rings are listed for buying and selling at 162.8 – 165.8 million VND/tael, a drop of 5.7 million VND/tael in both directions.
Bao Tin Minh Chau’s gold rings are trading at 164.5 – 167.5 million VND/tael, recording a drop of 4.5 million VND/tael in both directions.
Phu Quy brand gold rings saw a drop of 5.8 million VND/tael in both buying and selling prices and were trading at 163-166 million VND/tael.
This morning, the global gold price was $4,660 per ounce, $232 per ounce lower than yesterday morning’s price. Excluding taxes and fees, according to Vietcombank’s exchange rate, the global gold price is equivalent to about 147.1 million VND per tael, which is 18.9 million VND per tael lower than the domestic gold price.
After recording the largest single-day gain in history, followed almost immediately by the largest single-day sell-off to date, gold prices have shown a level of volatility typically seen only in risky assets.
Oil prices fell by more than $3 per barrel on Monday when US President Donald Trump said Iran is engaged in “serious talks” with Washington, signaling a reduction in tensions between the US and the OPEC member country. A strong dollar and forecasts of milder weather in the US also contributed to the price decline.
According to Reuters, at the close of the first trading session of the week, Brent crude oil prices fell by $3.02 per barrel or 4.4% to $66.30 per barrel; meanwhile, WTI crude oil prices fell by $3.07 per barrel or 4.7% to $62.14 per barrel.
A strong US dollar makes oil (priced in dollars) more expensive for investors using other currencies.
The domestic retail prices of petrol and diesel on February 3 are as follows:
* E5RON92 Gasoline: Not exceeding 18,339 VND/liter
* RON95-III Gasoline: Not exceeding 18,845 VND/liter
* Diesel Fuel 0.05S: Not exceeding 18,173 VND/liter
* Kerosene: Not exceeding 18,176 VND/liter
* Fuel Oil 180CST 3.5S: Not exceeding 14,633 VND/kg
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The Ministry of Industry and Trade and the Ministry of Finance adjusted domestic retail fuel prices from 3:00 PM on January 29. Specifically, the price of E5RON92 petrol increased by 56 VND/liter, RON95 petrol by 214 VND/liter, diesel by 473 VND/liter, kerosene by 226 VND/liter, and fuel oil by 761 VND/kg.
According to the Ministry of Industry and Trade, during this price adjustment period, the global oil market was affected by several key factors, including: tensions between the US and Iran; severe cold in the US; a larger-than-expected decline in US oil inventories; and prospects for talks to resolve the military conflict between Russia and Ukraine. These factors have caused global oil prices to fluctuate in recent days, rising and falling based on specific products.