Vietnamese Gold Prices Fall Amid Fed Anticipation
Gold prices in Vietnam continued to adjust on September 16th as the international market awaited the US Federal Reserve's policy meeting. SJC gold bars in Ho Chi Minh City and the North fell by 300,000 VND/ounce compared to September 15th, reaching a selling price of 145.3 million VND/ounce. This decline follows a similar trend on September 15th when SJC gold dropped by 300,000 VND to 145.3 million VND/ounce for the selling price.
The current selling price of SJC gold is 5.3 million VND/ounce lower than its short-term peak of 150.6 million VND/ounce on August 26th. The buy-sell spread remains at 3 million VND per tael, and the difference between SJC gold and world gold prices continues to exceed 10 million VND/ounce.
Other gold brands such as DOJI, PNJ, Bao Tin Minh Chau, and Phu Quy also reduced their gold prices by 300,000 VND/ounce. However, the price difference between these brands remains significant, with DOJI's gold rings selling for 146.5 million VND/ounce, Phu Quy's rings at 145.7 million VND/ounce, and PNJ's plain gold rings at 145.3 million VND/ounce.