Vietnam Gold Prices Plummet, Global Market Sees Moderate Decline
The gold price in Vietnam has seen a slight decrease globally and a steeper drop domestically. As of 9:00 AM, Phu Quy listed SJC gold bar prices at 140.8-143.8 million VND/tael (buying - selling), down 1.7 million VND/tael in both buying and selling directions.
The difference between buying and selling prices is currently at 3 million VND/tael, according to Phu Quy Gold and Gems Group listings. Similarly, DOJI Group listed SJC gold bar prices at the same threshold, with a decrease of 1.7 million VND/tael in both directions.
Global gold prices have also declined, with world gold prices listed around the threshold of 4,393.6 USD/ounce, down 24.3 USD/ounce as of 8:55 AM.
The market is currently experiencing fluctuations due to geopolitical tensions, changes in the US dollar value, and expectations about US monetary policy. Investors are maintaining a cautious sentiment, which has contributed to gold's attractiveness despite the strengthening US dollar and high US government bond yields.