Vietnam Gold Prices Slide Amid Global Bullion Decline

Gold prices in Vietnam experienced another bout of volatility on October 3, with domestic rates taking a sharp fall by VND 200,000 per tael. This decline coincided with a global drop in bullion prices.

The MCX gold price stayed under pressure as international gold traded near $4,223 an ounce, weighed down by a firmer U.S. dollar and high Treasury yields. Gold also dipped about 1.5% over the week, leaving traders attentive to U.S. economic data and expectations regarding the Federal Reserve's interest-rate trajectory.

Domestic gold bar prices stood at VND 141.1 million per tael for buyers and VND 144.1 million per tael for sellers, marking a drop of about VND 200,000 per tael compared with the prior session. Prices for 999.9 gold jewelry recorded steeper falls of about VND 400,000-500,000 per tael in certain markets.