Vietnam's Domestic Gold Prices Rebound Amid Global Decline

Vietnam's domestic gold market has experienced a reversal in fortunes, with prices rising by VND600,000 per tael at major brands. This increase brings the selling price of SJC gold bars to VND145.5 million per tael, despite global gold prices falling sharply by more than $51 per ounce.

The recovery comes after a previous session's deep decline, in which gold bar and ring prices at many major brands fell by as much as VND1.7 million per tael. Despite the increase, gold bar prices remain about VND5 million below their peak of nearly VND151 million per tael recorded last month.

Investors who bought at the peak are still nursing heavy losses of roughly VND8 million per tael, reflecting the considerable risk faced by those who entered the market during the earlier period of heated price gains.