Gold coins for sale in a shop in Hanoi in March 2025. Photo by VnExpress/Giang Huy
Vietnam gold prices fell marginally Thursday morning amid a slight decline of the precious metal on global markets.
Saigon Jewelry Company gold bar dropped 0.21% to VND142.7 million (US$5,521.38) per tael. A tael equals 37.5 grams or 1.2 ounces.
Gold ring was steady at VND141.4 million per tael. Gold prices in Vietnam have fallen 6.6% so far this year.
Globally gold fell 0.71% to $4,037.70 per ounce. China’s net gold imports via Hong Kong in September rose over 28% from August to a five-month high, due to restocking ahead of the Golden Week holiday, with additional support from investor demand, Reuters reported.
Traders are now pricing in an 86% probability of a U.S. rate hike in December, up from 88% before the announcement, CME’s FedWatch Tool showed. Rising inflation could force central banks to adopt higher rates, which dents non-yielding gold’s appeal.