Commodities
Vietnam Gold Prices Plummet After Strong US Jobs Report
Gold prices in Vietnam fell by VND 1 million per tael on September 5, reversing gains from the previous day. This decline came as global gold prices retreated after a stronger-than-expected US jobs report, which renewed fears of a Fed rate hike.
The recent tensions around the Strait of Hormuz waterway have also pushed oil prices higher, raising concerns about inflation and interest rates. As a result, domestic silver prices in Vietnam also fell.
On the MCX market, gold futures dropped by approximately 1.9% to around VND 3.99 million per 10 grams.