Gold Prices Stabilize Amid Global Market Turbulence
The price of gold in Vietnam has seen some stability, according to market reports. As of September 20th, SJC gold bars were listed at a buying price of 144.6-147.6 million VND/tael and a selling price of 144.1-147.1 million VND/tael. The buying-selling difference was at 3 million VND/tael for all three major companies: Saigon SJC Jewelry, DOJI Group, and Phu Quy Gold and Gems.
The world gold price has also been stable, closing the weekly trading session at 4,377 USD/ounce. However, experts predict a potential recovery in the coming week due to several key factors. If oil prices continue to fall, inflationary pressure will decrease, which may lead to lower interest rates and reduced bond yields. This could give gold more room for growth.
On the other hand, if tensions in the Strait of Hormuz cause oil prices to rise again, market concerns about inflation will return, leading to increased yields and a stronger USD. This would put additional pressure on gold.