Vietnamese Gold Prices Plunge Amid Geopolitical Uncertainty and US Dollar Strength

The gold price in Vietnam has continued its downward trend for a second consecutive day on September 16, amidst geopolitical uncertainty. The domestic market saw a minor correction following international bullion prices, which eased slightly to around $4,290 an ounce.

Major gold bars in Vietnam are now bought at roughly VND 142.3 million per tael, marking a decline of 300,000 VND per tael compared to the previous day. The MCX price, a futures-market benchmark, also fell to approximately $4,284 an ounce due to a stronger US dollar and rising Treasury yields.

The SJC gold bars listed at about VND 142.3 million per tael on the buy side and VND 145.3 million on the sell side, marking a decline of VND 300,000 compared with the prior day.