Vietnamese Gold Prices Recover, But Peak Buyers Still in the Red

The prices of gold bars and 9999 plain round gold rings have seen some fluctuations in Vietnam, particularly with the SJC gold bar price recovering by 600,000 VND/tael on September 23. This development reversed the deep decline of the previous session and went against the international market, where world gold prices were listed at 4,305.5 USD/ounce, down 51.5 USD/ounce (equivalent to about 1.19%).

Investors who bought gold bars in the peak area are currently recording a loss of about 8 million VND per tael due to the prices being about 5 million VND lower than the peak of nearly 151 million VND/tael recorded last month.

The market is keeping an eye on diplomatic efforts to end the US-Iran war, as well as comments from Federal Reserve officials. Richmond Fed Chairman Tom Barkin warned that it may take time for inflation shocks to subside and there is a risk that increased pressure may become ingrained.