Vietnam Gold Price Fluctuates as Market Awaits US Fed Decision
The gold price in Vietnam continues to fluctuate on September 15th. As of 9:00 AM, Saigon SJC Jewelry Company listed SJC gold bar prices at 142.3-145.3 million VND/tael (buying - selling), down an additional 300,000 VND/tael in both directions. The buying - selling difference is at 3 million VND/tael.
Other companies, such as DOJI and Phu Quy, also listed similar prices for SJC gold bars, with a decrease of 300,000 VND/tael in both buying and selling directions compared to the previous trading session closing. The buying - selling difference was at 3 million VND/tael.
Analysts predict that the gold price will continue to fluctuate strongly in the short term, influenced by the US Federal Reserve's decision on interest rates. If the Fed raises interest rates but signals caution about the next steps, gold may fall before the decision and then recover after selling pressure has been reflected in the price.
However, if the Fed expresses a tougher stance than expected, the USD and US bond yields may continue to rise, putting downward pressure on gold. Conversely, if the Fed raises interest rates but signals that the tightening cycle is about to end, or if Middle East tensions continue to escalate strongly, safe-haven demand may support gold recovery.