Foreign: Gold prices in Vietnam have fallen to their lowest level in nearly six weeks, while international gold prices have plunged more than 2%, according to a report by VN Express on September 28, 2026.
Saigon Gold Jewelry Company started the week by reporting a 0.7% drop in the price of bullion to 143.4 million VND (about 5,524 US dollars) per tael, the lowest since August 19. The price of bullion also fell by a similar amount, to 142.9 million VND per tael. (Note: 1 tael is equal to 37.5 grams or 1.2 ounces).
Globally, gold prices fell more than 2% on Monday as rising oil prices fueled concerns about inflation and strengthened expectations that the Federal Reserve will raise interest rates further.
Spot gold fell 2.1% to $4,198.10 an ounce, its biggest daily decline since September 1. US gold futures fell 2.1% to $4,231.00.
Meanwhile, Iran has maintained that only diplomatic means can resolve its disputes with the United States and Israel. The comments came after US President Donald Trump said he rejected Iran’s request to reopen the Strait of Hormuz to end the fighting, a factor that has pushed oil prices higher.
“High bond yields, combined with rising oil prices, are the factors that continue to put significant pressure on the gold market,” said Tim Waterer, head of market analysis at KCM Trade. “Oil prices have risen on mixed signals around the flow of oil supplies, which makes inflation a major concern for investors.”
Looking ahead, investors will be closely watching US labor market and inflation data due out this week.
“If inflation figures are strong, “Or stronger-than-expected jobs data will continue to put upward pressure on bond yields, and that will continue to drag gold prices down further.”
Editor: Kiri
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