Gold Prices Recover in Vietnam Amid Central Banks' Increased Reserves
The price of gold in Vietnam has increased by up to 1 million VND per tael, making it a good time for investors to return to the market. The World Gold Council (WGC) reported that central banks have continued to add gold to their reserves, with China and Poland increasing their allocations in July.
The price of 99.99% pure gold rings at various brands increased by 100,000 to 1 million VND per tael, while the price of SJC gold bars uniformly increased by 200,000 VND per tael in both buying and selling prices.
Société Générale, a French multinational banking group, suggests that this is the right time for investors to return to the market as gold prices are gradually recovering after months of correction. The bank's analysts stated that despite real yields remaining positive, gold prices have stayed near record highs, deviating from historical patterns.