Vietnamese Gold Prices Rebound Amid Fed Rate Hike Expectations

Gold prices in Vietnam rebounded on September 13 after a sharp drop earlier in the week, but the precious metal remains under pressure due to expectations of higher interest rates and fluctuations in demand.

The domestic gold price held near VND 143 million per tael as investors purchased gold after recent losses. Global gold prices remained above $4,300 an ounce, but the prospect of a Federal Reserve rate hike continues to cap further gains.

Despite this, buying on dips and persistent bullish sentiment have lent some support to prices. The MCX price closed at roughly $4,347.70 per ounce, a drop of more than $81 compared with the prior week.