Vietnam Gold Prices Rise as Global Bullion Rates Plummet 6% Monthly
Gold prices in Vietnam rose on Wednesday morning as global bullion rates approached a 6% monthly drop.
The Saigon Gold Jewelry Company's gold bar price increased by 0.7% to VND143.5 million (US$5,525.61) per tael, which is equivalent to 37.5 grams or 1.2 ounces.
The gold ring price also rose by 0.7% to VND143 million per tael.
Globally, gold prices remained steady on Wednesday but were set for a monthly loss due to expectations of higher interest rates and investors awaiting US inflation data for clues on the Federal Reserve's next policy move.
Tony Sage, CEO of Critical Metals, stated that 'The PCE data release will be an important test for gold as it could influence expectations for US monetary policy, and the direction of Treasury yields and the dollar.'