Gold jewelry seen in a shop Hanoi, October 2025. Photo by Read/Hoang Giang
Vietnam gold prices continued to decline Thursday afternoon after hitting a six-week low in the morning as global rates dropped to the lowest in a month.
Saigon Jewelry Company gold bar plummeted 4.1% from Wednesday to VND175.5 million (US$6,669.21) per tael (equivalent to 37.5 grams or 1.2 ounces). In the morning the decline was 2.51%.
Gold ring plunged 3.9% to VND175.5 million per tael. Gold prices in Vietnam have risen 15% so far this year.
Globally gold prices fell to a more-than-one-month low on Thursday, weighed down by a firm dollar and a hawkish Federal Reserve, which limited hopes for near-term interest rate cuts, Reuters reported.
Spot gold fell 1.1% to $4,764.27 per ounce, its lowest since Feb. 6. Gold has fallen more than 9% since the U.S.-Israeli strike on Iran on Feb. 28, pressured by a stronger dollar, which has emerged as one of the clearest “safe-haven” winners.
“Gold continues to struggle in this high dollar and high oil environment despite ongoing heightened geopolitical risks. Increased market volatility is also leading to some gold positions being closed to cover margin calls in other assets,” said Tim Waterer, KCM Trade chief market analyst.
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