Vietnam gold prices dip to weekly low as US‑Iran tensions and Fed outlook pressure markets

On 14 July, gold prices in Vietnam fell across major retailers – SJC, PNJ, Bảo Tín – to between 143.8 million and 146.8 million VND per tael, the lowest level in a week, marking a drop of about 2 million VND per tael from the previous session. The decline mirrored a global slide, with Kitco reporting spot gold at $4,001 per ounce, down $76 from the day before.

Analysts linked the fall to heightened Middle‑East tensions after a new US strike on Iran, rising oil prices, and growing expectations that the U.S. Federal Reserve will keep monetary policy tight. FedWatch data showed a 69 % probability of a September rate hike, up from 63 % a week earlier. The strong U.S. dollar and cautious Fed stance also weighed on precious metals, with gold down about 1 % domestically over the week and 1.32 % globally (to $4,120/oz). Silver fell as well, dropping roughly 4 % over the same period.

Investors are now focused on upcoming U.S. data – the June consumer‑price index and the first congressional testimony of Fed Chair Kevin Warsh – which could further shape expectations for interest‑rate policy and, consequently, gold’s trajectory.