Vietnamese Gold Prices Drop at End of Week

The price of gold in Vietnam decreased at the end of last week's trading session. Saigon SJC Jewelry Company listed SJC gold prices between 145.7-148.7 million VND/tael, with a buying-selling difference of 3 million VND/tael. Compared to the closing session of the previous week, the price of SJC gold bars at Saigon SJC Jewelry Company increased by 1.1 million VND/tael in both buying and selling directions.

Meanwhile, DOJI listed SJC gold prices between 145.7-148.7 million VND/tael, with a buying-selling difference of 3 million VND/tael. The price of SJC gold bars at DOJI increased by 1.1 million VND/tael in both buying and selling directions compared to the previous week.

Buyers who purchased SJC gold bars on August 23 and sold them on today's session lost 1.9 million VND/tael at Saigon SJC Jewelry Company and 3.8 million VND/tael at DOJI Jewelry Company.

The price of 9999 gold rings also increased, with DOJI Group listing prices between 145.7-149.7 million VND/tael, a rise of 200,000 VND/tael in both buying and selling directions. The buying-selling difference is at 4 million VND/tael.

In the world market, gold prices closed the week around the 4,454 USD/ounce range, significantly lower than the previous peak of nearly 4,698 USD/ounce. Analysts' sentiment towards the prospects for next week has not completely shifted to negative, with 48% predicting gold prices will increase and 29% saying they will continue to fall.