Illustration by Trịnh Lập

By An Phương

In Việt Nam’s bustling city centres, a quiet shift is underway. Gold shops once dominated by parents and grandparents are now welcoming a new generation of customers. Young adults are lining up to buy a chỉ (3.75 grams), a lượng (37.5g), or a small gold bar – not for weddings or special occasions, but as a way to build long-term savings and financial security.

Gold prices in Việt Nam have risen sharply in recent months. Like many others, I find myself checking the price almost daily, waiting for the right moment to buy.

In my early 30s now, I actually began buying gold back in 2010. At the time, I didn’t fully understand it as an investment strategy. It was simply something my mother advised me to do: buy a little each year, put it away, and consider it a form of savings. Over time, it became a habit.

Recently, however, I’ve noticed something different. Many of my younger friends – fresh graduates and early-career professionals – are queuing at gold shops. I was surprised. In today’s digital age, with countless investment apps, savings platforms and financial products available, gold seemed almost old-fashioned.

Yet for some, tradition is exactly the point.

“I was asked by my mother to buy gold for her,” said Khánh Phan, 24. “This is the third time I’ve done it. But this time, I decided to buy a small amount for myself too. It feels both good and strange at the same time. I’m happy because I’m saving something, but I also feel a little ‘old’, like I’m following my parents’ generation.”

Khánh’s feelings resonated with me. When I first bought gold as a young adult, it felt like a milestone – a sign of responsibility. At the same time, I didn’t fully understand how gold prices fluctuated or what I should do if prices rose or fell. It was less about strategy and more about discipline: putting aside something tangible for the future.

“Parents, particularly in Asian families, play a significant role in shaping how their children view gold as a form of savings,” says Quang Trần, 25. “I usually buy gold right after payday, when I receive a bonus, or whenever I have spare cash. During my first three years after graduation, I could only afford to buy one chỉ every few months, as my starting salary was modest. It was only in the past year that I began purchasing gold more regularly.”

Both Khánh and Quang say they prefer buying gold rings because they are easy to purchase and resell, with no additional fees for craftsmanship or processing.

They add that, with the modest sums they currently have, investing in property is not yet within reach. Instead, they accumulate small amounts of gold as savings, reassured by the fact that prices have been climbing.

Gold is a tangible form of savings that feels real, they agree.

In my view, the sharp rise in gold prices in 2025, coupled with global economic and geopolitical uncertainties, has been a key factor driving greater interest in gold – particularly among young people – as a traditional and relatively safe investment channel.

“Social media influencers and financial communities online have also taken part in normalising saving with gold,” Linh Đặng, 28, says.

No longer just a wedding gift or ceremonial token, gold is becoming a part of how many Gen Zers – including students, recent graduates and office workers – think about money, savings and future security.

“I haven’t sold any of the gold I’ve bought over the past five years, since I started investing in it. I focus on working and earning more to cover my daily expenses instead. I don’t intend to sell my gold anytime soon, even though I know I’ve already made a profit. For me, owning gold is a form of financial discipline and security for the future,” Linh adds.

This shift reflects a deeper re-evaluation of financial habits, where saving is associated with patience and discipline rather than instant gratification.

That said, careful consideration of risk remains essential, regardless of the form of savings chosen.

Experts advise that when investing in gold, young people should assess the balance between risk and return, bearing in mind that higher potential profits often come with greater volatility. They warn against herd behaviour and the temptation to buy at peak prices during sharp rallies. Liquidity should also be taken into account when selecting an investment vehicle.

“I completely agree. We should never put all our eggs in one basket. Today, young people have access to information from all directions, enabling us to make more informed financial decisions. Whether it’s buying gold, putting money into savings accounts, investing in stocks or even cryptocurrencies, each option comes with its own advantages and risks," Linh says.

However, she continues, constant exposure to information can also fuel FOMO and create confusion. What matters is taking the initiative to verify information through reliable and official sources. And if you choose to buy gold, you should purchase it from reputable sellers that operate in compliance with State regulations.

For me, buying gold is not about chasing short-term gains. Having owned gold for more than a decade, I have come to see it as a way to build financial discipline and prepare for long-term goals, rather than something to sell when prices rise.

For many members of Gen Z in Việt Nam, gold is no longer just jewellery. It has become a symbol of financial responsibility, a step toward long-term stability and a bridge between cultural tradition and modern money management.

Whether this trend will deepen or evolve alongside broader economic shifts remains to be seen. One thing, however, is clear: young people are actively shaping their financial futures. — VNS