Vietnam Gold Prices Fall Amid Central Bank Buying and Investment Shifts
Gold prices in Vietnam continued their downward trend on October 7, 2026, signaling potential shifts in investment capital and sustained buying activity by the central bank. Major gold brands, including SJC, DOJI, Bao Tin Manh Hai, and PNJ, saw declines in both buying and selling prices. For instance, PNJ gold bars fell by 600,000 VND per ounce, trading between 139.9 and 142.9 million VND. Similarly, Bao Tin Minh Chau adjusted its prices downwards, with a slight decrease in the selling price, settling at 139.9 to 143.5 million VND per ounce.
The global gold price remained around $4,150 per ounce, marking the lowest levels in about two months. Analysts suggest that while short-term declines may continue, safe-haven demand due to geopolitical and economic uncertainties could drive investment capital back into gold. The Central Bank's ongoing purchases are also expected to support the market. Meanwhile, the world gold price on the Kitco exchange saw a slight increase to $4,162.70 per ounce, a 0.52% rise from the previous session.
The decline in gold prices is attributed to a stronger US dollar and high US government bond yields, which make gold more expensive for investors holding other currencies. The US dollar index rose, while the yield on 10-year US Treasury bonds remained near its highest level in about 20 years. Despite these pressures, long-term factors such as geopolitical risks and central bank buying activity continue to support gold prices. Joachim Nagel, president of the German central bank, highlighted the increasing importance of gold in global monetary reserves, citing its role in diversification and safety during economic stress.
Domestic gold prices are expected to remain volatile in the short term, with potential rebounds driven by shifts in US interest rate expectations and geopolitical developments. The next major catalyst for gold prices could stem from risks in the Middle East or changes in US monetary policy. Investors are closely watching the release of the Federal Open Market Committee's September meeting minutes for further clues on the Fed's direction.