Vietnamese Gold Market Sees Rebound as Domestic Prices Surge

The domestic gold market in Vietnam experienced a significant rebound on Sunday morning, August 16th. After sharp declines in the previous session, SJC gold bars increased by 700,000 VND/ounce in both buying and selling prices, bringing the selling price back to 144 million VND/ounce.

The other surveyed brands, including DOJI, PNJ, and Phu Quy, also raised their prices. DOJI's 9999 gold rings reached 144.5 million VND/ounce, while PNJ increased the price of its plain gold rings by 600,000 to 700,000 VND/ounce.

The Bao Tin Minh Chau brand experienced the most significant price adjustment, with its selling price increasing by as much as 1.1 million VND/ounce. Phu Quy's gold bars and rings both returned to 144 million VND/ounce.

World gold prices remained stable at around $4,377 per ounce over the weekend, unchanged from August 15th. However, this does not necessarily reflect the current market situation, as international markets were closed for trading.