Gold jewelry seen in a shop Hanoi, October 2025. Photo by VnExpress/Hoang Giang
Vietnam gold prices plunged Thursday morning while global rates inched lower as the market reacted to a ceasefire agreement in the Middle East.
Saigon Jewelry Company gold bar dropped 2% to VND171.5 million (US$6,514.60) per tael. A tael equals 37.5 grams or 1.2 ounces.
Gold ring fell 2% to VND171 million per tael. Gold prices in Vietnam have risen 12% this year.
Globally gold slipped into negative territory at about $4,705 in early Asian trading on Thursday, edging lower as a temporary two-week ceasefire between the U.S. and Iran dampened demand for the safe-haven asset, according to financial data platform FXStreet.
Late Tuesday, U.S. President Donald Trump said he had agreed “to suspend the bombing and attack of Iran for a period of two weeks” on the condition that Iran reopens the Strait of Hormuz.
“The ceasefire is calming markets and easing pressure. It could help roll back some inflationary pressures and might open the door for Fed rate cuts, which is bullish for gold,” said Edward Meir, a Marex analyst.
