Vietnam Gold Prices Rebound Amid Lower Oil Prices
The price of gold bars and gold rings rebounded at the close of the session on September 11, according to recent data from various brands in Vietnam. SJC gold bar prices were listed at 142.4-145.4 million VND/tael (buying - selling) by Phu Quy, DOJI, and Bao Tin Minh Chau, with an increase of 400,000 VND/tael in both buying and selling directions compared to the morning session.
The difference between buying and selling prices was at 3 million VND/tael for all three brands. Additionally, Phu Quy Gold and Gems Group listed the price of gold rings at 142.4-145.8 million VND/tael (buying - selling), increasing by 400,000 VND/tael and 300,000 VND/tael respectively compared to the morning session.
Meanwhile, DOJI Group listed gold ring prices at 142.8-146.8 million VND/tael (buying - selling), both increasing by 300,000 VND/tael in both directions. The buying - selling difference was at 4 million VND/tael.
According to analysts, the precious metal is benefiting from lower oil prices, amid expectations that the meeting between GCC and Iranian ministers on Monday could bring results related to oil transportation through the Strait of Hormuz.