Vietnam Gold Prices Rebound on Global Gains Ahead of Fed Decision
Gold prices in Vietnam rebounded on Wednesday afternoon after an initial drop of 0.7% earlier in the session.
The Saigon Jewelry Company's gold bar price rose to VND141.5 million per tael, closing at the same level as Tuesday, and the gold ring price similarly rebounded to VND141 million per tael.
A tael is equivalent to 37.5 grams or 1.2 ounces.
Globally, gold prices also edged up on Wednesday, supported by technical buying, as investors await the Federal Reserve's interest rate decision later today.
Nikos Tzabouras, senior market analyst at Tradu.com, attributed gold's resilience to dip-buying around the psychological $4,000 level and market expectations for a Fed hold.