Gold prices in Vietnam fluctuate amid global market shifts

Gold markets in Vietnam have experienced significant volatility, with domestic prices for SJC gold bars and gold rings fluctuating throughout mid-August. As of August 16, SJC gold bars were listed at approximately 141 million VND for buying and 144 million VND for selling. Despite recent price increases, many short-term investors face losses due to a wide spread of 3 million VND between buying and selling prices.

Global gold prices have been influenced by cooling US inflation and consumer spending data, which has lowered expectations for interest rate hikes by the Federal Reserve. While international prices reached levels near 4,375-4,377 USD per ounce, the gap between domestic Vietnamese prices and global rates has narrowed significantly to around 5 million VND per tael, down from previous highs of 20-30 million VND.

Major domestic brands including DOJI, PNJ, Phu Quy, and Bao Tin Minh Chau have all reported similar trends in gold ring and bar pricing. Analysts suggest that while global trends remain a primary driver, the domestic market is moving toward greater transparency and closer alignment with international market values.