Vietnam Gold Prices Drop Amid Global Market Volatility

The gold price in Vietnam has decreased, with SJC gold bars selling at 147-150 million VND/tael, down 600,000 VND/tael from yesterday's prices. This decrease is seen across multiple businesses, including Phu Quy and DOJI.

Meanwhile, the price of gold rings has also dropped, with Phu Quy Gold and Gems Group listing them at 147-150.5 million VND/tael, down 600,000 VND/tael on the buying side and down 500,000 VND/tael on the selling side.

On the global market, gold prices have decreased due to profit-taking activity after a strong increase. The Personal Consumption Price Index (PCE) in July showed a higher-than-expected inflation rate, leading to increased US government bond yields and a stronger USD, which puts downward pressure on gold prices.