Vietnam's Gold Prices Remain Unchanged as Customers Flee

Gold prices in Vietnam remained unchanged at a crucial level on August 2nd. The demand for gold continued its sharp decline as customers stayed away from gold shops, leaving them deserted this weekend.

Dan Viet reporters observed that the streets of Hanoi's 'gold street' were less vibrant than usual, with more shop staff than customers. Phu Quy store and Doji store on Tran Nhan Tong Street had almost no customers buying gold this morning.

One customer, Mr. Thien Duc, bought 2 taels of gold to pay off his debts, but expressed that the price of gold is unpredictable and not suitable for investment. The staff at Phu Quy store said they saw only a small number of customers at the beginning of opening hours and remained quiet throughout the morning.

The prices of SJC gold bars were trading at 137-141 million VND/ounce, stable in both buying and selling prices compared to early yesterday morning. World gold prices are forecast to remain firmly at the $4,000/ounce mark, according to Trading Economics.