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Gold prices in Vietnam remain stable amid global market volatility
Domestic gold prices in Vietnam have remained stable following a period of volatility. SJC gold bars are currently trading at approximately 141.4 million VND for purchase and 144.4 million VND for sale. Gold rings from major brands like DOJI and Bảo Tín Minh Châu are seeing slightly higher selling prices, reaching up to 145.5 million VND per tael.
On the international market, gold prices have faced downward pressure, recently trading around 4,284 USD per ounce. This decline is attributed to rising US Treasury yields and expectations that the Federal Reserve may implement further interest rate hikes to combat inflation.
Investors in the domestic market have faced significant losses over the past week. Due to the combination of falling prices and wide buy-sell spreads, some investors reported losses of between 6 and 6.5 million VND per tael for purchases made earlier in the week.
Entities
Bao Tin Minh Chau · Doji · Federal Reserve · Goldman Sachs · PNJ · SJC · Vietnam
Claims
What the coverage asserts, and how many sources carry each claim.
- [○ 1 SOURCE] The gap between domestic and international gold prices exceeded 9 million VND.
- [● 3 SOURCES] DOJI listed gold ring prices at 141.5 million VND/tael for buying and 145.5 million VND/tael for selling.
- [● 3 SOURCES] SJC gold bars were priced at 141.4 million VND/tael for buying and 144.4 million VND/tael for selling on September 26.
- [○ 1 SOURCE] US 10-year Treasury yields reached their highest level since 2007 at 5.1633%.
- [● 2 SOURCES] Global gold prices were recorded around 4,285 USD/ounce.