Vietnamese Gold Prices Rise Amid Global Market Decline
The gold price in Vietnam continues to fluctuate, with SJC gold bar prices listed at 137.9-141.9 million VND/tael (buying - selling), an increase of 200,000 VND/tael in both directions. This marks a significant change from the previous day's prices.
The buying and selling difference remains at 4 million VND/tael. Other businesses, such as Phu Quy Jewelry Group and DOJI, also list SJC gold bar prices within this range, with slight variations in price differences between buying and selling.
In the global market, the world gold price was listed around the threshold of 4,049 USD/ounce at 1:45 am Vietnam time, down 58.3 USD from the previous day's closing price. Analysts attribute this decline to the strengthening US dollar, high US government bond yields, and rising oil prices.
These factors contribute to gold prices facing downward pressure, with the potential for further declines if interest rates increase at the upcoming Fed meeting in September. However, geopolitical tensions in the Middle East may boost demand for safe-haven assets like gold.