How gold is priced in Vietnam
Vietnamese gold is priced per lượng (also called cây or tael, 37.5 g) and per chỉ (3.75 g, a tenth of a lượng). The prices people follow are for SJC gold bars and plain 9999 rings, each with a buying and a selling price. The figures here are the international spot price converted to dong; domestic prices usually sit above them.
Why Vietnamese gold costs more than the world price
Under Decree 24/2012, only the State Bank of Vietnam (SBV) could organise gold bar production and SJC was the single national bar brand, so bar supply was tightly limited. SJC bars have traded at a premium to the world price converted to dong that changes from day to day: at times it has been very wide, and at others much narrower. In 2024 the SBV also sold bars through state-owned banks and SJC to narrow the gap. Plain 9999 rings (nhẫn tròn trơn) are made by many jewellers and priced separately.
New gold bar rules, 2025–2026
Decree 232/2025, issued on 26 August 2025 and in force from 10 October 2025, ended the state monopoly. Enterprises and commercial banks licensed by the SBV may produce gold bars and import raw gold for production, within quotas set by the SBV. Applicants must meet high minimum charter capital requirements; in April 2026 the SBV was still reviewing 11 applications. Gold purchases or sales of VND 20 million or more a day must be paid through bank accounts.
Taxes and units
Imports of unworked gold bars are outside VAT, and gold, silver and gem dealers pay VAT by the direct method: 10% of their margin (selling price minus purchase price), built into their prices. The Personal Income Tax Law in force from 1 July 2026 provides for a 0.1% tax on the value of each gold bar transfer, but the Ministry of Finance said it would not be collected until the government sets the threshold and start date in a separate decree. Under standard TCVN 7054:2014, one lượng is 37.5 g and ten chỉ; one phân is a tenth of a chỉ (0.375 g).
Tax and duty information last reviewed October 2026. Rules change — confirm with your dealer or tax authority before a large purchase.