Vietnamese Gold Prices Soar Amid Global Market Volatility
The gold price in Vietnam has reached new heights, with SJC gold bars approaching the 148 million VND/tael mark. According to Saigon SJC Jewelry Company, the current buying and selling prices for SJC gold bars are at 144.6-147.6 million VND/tael.
This represents an increase of 1.8 million VND/tael in both directions compared to the previous day's closing session. The buying-selling difference is also maintained at 3 million VND/tael.
The world gold price has been fluctuating due to various market developments, including the recent interest rate hike decision by the Federal Reserve. While the Fed raised its target interest rate band by another 25 basis points to 3.75%-4.00%, it signaled that another rate hike could still occur.
The current context for gold is positive, with yields and falling oil prices supporting the recovery momentum. However, the market is still uncertain, and investors are re-evaluating the Fed's policy orientations for the coming time.