Vietnam Gold Prices Plummet as Global Rates Rebound
Gold prices plummeted in Vietnam on August 14 as global gold prices retreated from record highs due to a strengthening U.S. dollar and elevated U.S. Treasury yields.
The price of SJC gold bars fell by VND 1.3 million per tael at Phu Quy Jewelry Group, while DOJI Group posted similar prices. Bao Tin Minh Chau listed the product at VND 140.2-144.2 million per tael, a decline of VND 1.8 million per tael.
The declines were even steeper for 9999 gold rings, with DOJI quoting them at VND 140-144 million per tael, down as much as VND 2 million per tael on both the buy and sell sides.
UBS strategists remain positive about gold's medium- and long-term outlook, forecasting that prices could approach $5,000 per ounce in the first half of 2027 due to potential real interest rate declines and continued central bank gold purchases.