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Commodities

Vietnam Gold Prices Plummet on Global Market Trends

Guavy AI Editorial Team
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Gold
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Gold prices in Vietnam experienced an unexpected decline on August 7th. The prices of SJC gold bars and rings from various brands dropped, following global market trends. According to experts, domestic gold prices closely follow global developments.

The price of SJC gold bars at Bao Tin Manh Hai was trading at 139.7 - 142.7 million VND/ounce (buy - sell), a sharp decrease of 600,000 VND/ounce in both buying and selling prices compared to the beginning of yesterday morning.

Michele Schneider, Chief Market Strategist at MarketGauge, expressed her optimistic long-term outlook for gold. She pointed to continued central bank buying, including China's sustained purchases and South Korea's new accumulation, along with rising global debt levels as key factors supporting the precious metal.

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