Stocks
Vietnam Gold Prices Surge Amid Global Rally to Near $4,500
Gold prices in Vietnam surged on September 4 as global gold rallied to near $4,500 per ounce. Domestic SJC gold bars traded at VND 145.4-149.6 million per tael, while 9999 gold rings reached VND 145.5-149.6 million per tael depending on the brand.
The upward trend was driven by cooling U.S. labor market data, falling Treasury yields, and less hawkish remarks from Fed Governor Christopher Waller. Goldman Sachs projects gold could hit $4,900 per ounce by late 2026, fueled by robust central bank demand.
The global gold recovery was also influenced by rising oil prices due to geopolitical tensions in the Middle East, which has a two-sided impact on safe-haven demand for gold.