Vietnam Gold Prices Jump as Dollar Weakens and Oil Prices Ease
Gold prices in Vietnam rebounded on September 18, rising to approximately VND 147 million per tael as the US dollar weakened and oil prices declined. This recovery came after a decline in gold prices the previous session, when buying prices for major gold bars fell to around VND 142.8 million per tael.
The global gold price rose to about $4,343 an ounce, supported by lower Treasury yields and a softer US dollar. Although elevated interest rates continue to pose a challenge for gold, the recent drop in US yields and the dollar has helped bring back demand for the precious metal.
The Federal Reserve's 25-basis-point rate increase and its indication that additional tightening may be on the table are still being evaluated by markets. Investors are keeping an eye on current geopolitical tensions as they affect demand, with gold prices staying volatile but rebounding strongly after the decline in the prior session.