Vietnamese Gold Prices Unchanged Amid Global Recovery
The gold market in Vietnam remained stable on August 3rd, with no changes to prices. SJC gold bars were listed at 141 million VND/ounce for selling and 137 million VND/ounce for buying, while DOJI gold bars were priced similarly. The buy-sell spread of 4 million VND/ounce continued to pose a risk for short-term traders.
The global gold price recovered to $4,073 per ounce on the morning of August 3rd, an increase of $30 or approximately 0.74% compared to August 2nd. The world gold market had experienced fluctuations between $4,043 and $4,084 per ounce in the early trading session.
The stabilization of prices is attributed to the temporary suspension of US plans to launch a new attack on Iran, easing tensions and providing optimism for a quick agreement regarding its nuclear program and the restoration of maritime traffic through the Strait of Hormuz. However, risks remain, with the US dollar, bond yields, and outlook for US interest rates remaining headwinds.