Vietnam gold prices rise after Fed rate hold, VND/USD steady

Saigon Jewelry Company Vietnam gold prices Federal Reserve rate decision VND/USD exchange rate Commerzbank gold forecast

The State Bank of Vietnam kept the VND‑USD central rate at 25,306 đồng on 29 July 2026, with commercial banks quoting rates around 26,115‑26,530 đồng. Market participants assigned a 71 % probability that the U.S. Federal Reserve would keep interest rates unchanged at its meeting that week, and the Fed later confirmed the policy rate remained at 3.5‑3.75 %.

Vietnamese gold prices fell on 29 July, with Saigon Jewelry Company (SJC) quoting 136.5‑140.5 million VND per tael. After the Fed’s decision, gold prices rebounded on 30 July, and SJC listed gold at 138.5‑142.5 million VND per tael, a rise of about 1 million VND per tael across major retailers. International spot gold prices also lifted, moving from around $4,019 per ounce on 29 July to about $4,075 per ounce on 30 July.

Commerzbank lowered its 2026 year‑end gold price forecast to $4,500 per ounce, down from $4,800, citing persistent inflation pressures and the Middle‑East conflict as factors that weaken gold’s safe‑haven appeal.

Entities: Commerzbank · Federal Reserve · Federal Reserve (Fed) · Kevin Warsh · Saigon Jewelry Company (SJC) · State Bank of Vietnam · Sài Gòn – JSC (SJC) · USD Index · United States Federal Reserve (Fed) · United States dollar (USD) · Vietnam · Vietnam (VN)

Claims

What the coverage asserts, and how well corroborated each claim is across sources.

[● 4 SOURCES] The State Bank of Vietnam kept the VND/USD central rate at 25,306 đồng per US$ on 29 July 2026. (1a106830-2b3f-4d28-9226-7d17f1a04e17)
[● 3 SOURCES] Market participants assessed a 71 % probability that the Federal Reserve would keep rates unchanged at its meeting that week. (1a106830-2b3f-4d28-9226-7d17f1a04e17)
[● 5 SOURCES] Gold prices in Vietnam fell for a second consecutive day, with Saigon Jewelry Company (SJC) offering 136.5 million VND (buy) to 140.5 million VND (sell) per tael on 29 July 2026. (ec9b8c5e-dff2-4001-8130-1fec08249697)
[○ 1 SOURCE] Crude oil prices rose about 5% amid signals of a US‑Iran cease‑fire. (market price movement)
[● 2 SOURCES] The USD index fell to 101.39 points on 29 July 2026. (source)
[○ 1 SOURCE] Buyers who purchased gold at the start of the week incurred a loss of about 6.5 million VND per tael due to the price decline. (market analysis)
[● 5 SOURCES] International spot gold price was around $4,019 per ounce on 29 July 2026. (1a106830-2b3f-4d28-9226-7d17f1a04e17)
[● 2 SOURCES] Major Vietnamese commercial banks quoted USD buying rates between 26,150 and 26,530 VND per USD on that date. (bank price listings)
[● 2 SOURCES] The US dollar weakened slightly against the Vietnamese đồng on 29 July 2026. (source)
[● 2 SOURCES] Market participants expect the Fed’s potential rate hike to support the USD’s strength. (market analysis)
[● 2 SOURCES] The price of a 1‑tael SJC gold bar fell to 136.5 million VND (buy) and 140.5 million VND (sell) on 29 July 2026. (gold dealer price list)
[● 2 SOURCES] Prices for 9999‑pure gold rings fell to between 136.2 million and 141.5 million VND depending on retailer on 29 July 2026. (gold dealer price list)