29 December 2023
Gold traders flocked to jewelry stores in Vietnam amid volatile prices, with over 30 customers seen at a Saigon Jewelry Company store in Ho Chi Minh City. Prices fluctuated significantly, leading some to sell early out of decline fears. Mi Hong chain also experienced high traffic, though less than during the recent price peak. Vietnam’s gold prices, which surged to a record high earlier in the week, have since dropped, causing uncertainty among buyers and sellers. In Hanoi, the Prime Minister’s directive to align domestic with global rates spurred early morning sales, noting that local prices are about 30% higher than global rates.