Vietnamese Gold Prices Rebound as Global Spot Gold Eases

Gold prices in Vietnam experienced a rebound on Wednesday afternoon after a morning decline. The price of gold bars at Saigon Jewelry Company increased by 0.72% to VND140.5 million (US$5,337.74) per tael, up from the morning's 0.36% drop.

The global market saw spot gold ease by 0.2% to $4,037.29 per ounce, with bullion still on track for a small weekly gain of 0.5%. U.S. gold futures for August delivery were 0.3% lower at $4,039.80.

Analysts from China Zheshang Bank expressed concerns about the recent rally in gold prices, stating that it lacks fundamental support and will be unsustainable if oil prices remain high and the Federal Reserve maintains a hawkish stance.