Vietnam gold market sees price surges and PNJ policy changes

Vietnam's gold market has experienced significant volatility and price shifts between late September and early October 2026. Domestic gold prices, including SJC gold bars and various ring types, saw substantial increases, with some brands raising prices by 1 to 1.6 million VND per tael. Major retailers such as SJC, DOJI, and PNJ reported these upward trends despite fluctuations in global gold markets, which were influenced by US economic data and Federal Reserve interest rate expectations.

In response to market conditions, PNJ has implemented a new buyback and exchange policy effective September 30, 2026. The policy introduces tiered payment timelines: SJC gold bars and certain rings are now paid in full within two days (T+2), while 22-24K gold jewelry is paid within seven days (T+7). Diamond jewelry and colored gemstones remain on a longer repayment schedule of up to 120 days, distributed across five installments.

Beyond gold, the Vietnamese agricultural sector shows mixed trends. Coffee exports remain a strong pillar, with Vietnam's coffee revenue exceeding $6 billion, driven by high Robusta demand and an increasing focus on processed products. Meanwhile, the livestock sector has seen a downward adjustment in pig prices across several northern and central provinces.