Vietnam Gold Prices Plummet Amid Global Economic Uncertainty
The price of gold in Vietnam's domestic market has taken a sharp decline on August 4th. SJC gold bars are trading at 137 million VND/ounce for buying and 140 million VND/ounce for selling, down from this morning's prices by 500,000 and 1 million VND/ounce respectively.
PNJ gold bars have also seen a decrease in price, with buying and selling prices of 137 million VND/ounce each. Phu Quy SJC gold is trading at the same price as PNJ, while DOJI gold bars remain unchanged from this morning's session.
The decline in gold prices comes as investors are awaiting key US economic data this week, including the July private sector jobs report and the July non-farm payrolls report. The rise in energy prices has also reinforced expectations that the Federal Reserve will maintain high interest rates for a longer period to combat inflation, putting pressure on gold.