Vietnam Gold Prices Rebound Amid Economic Uncertainty

Gold prices in Vietnam rebounded on September 20 after three consecutive weeks of decline. The recovery was driven by stable demand, lower oil prices, and a weaker US dollar.

The gold price rose to around VND 145.8 million per tael, up from the previous weekend's level by roughly VND 1.6 million per tae. International gold prices also increased, reaching $4,380 an ounce as investors sought safe-haven assets amid ongoing economic and geopolitical uncertainty.

Despite higher US Treasury yields and expectations of additional interest-rate hikes capping gains, gold continued to find support from demand for a safe-haven asset. The rebound in Vietnam's gold market was also influenced by the country's major festivals and wedding periods, which can affect local markets and prices.