Vietnamese Gold Shops Abandonned as Prices Plummet
In Ho Chi Minh City, gold shops that were once bustling with early morning customers are now eerily quiet. Just a few months ago, people would queue up at these stores when prices peaked, but now they're scarce as prices have plummeted.
A recent visit to a local gold shop revealed an interesting dynamic. A woman came in to buy a small gold bracelet for her baby's first-birthday celebration, but that was the only customer seen during the visit. The shop owner's daughter paid a fair price for a 24K gold ring without even weighing it again.
Local gold prices have dropped from over VND190 million (US$7,213) per tael in early 2026 to below VND150 million. While some people who bought gold at lower prices have made a profit by selling now, others are worried about their lost investments in the precious metal.