Vietnam Gold Prices Rise August 6 on Global Rebound

In Vietnam, SJC gold bars and branded gold rings posted increases of as much as 1.8 million dong per tael, according to the seed data. The move follows a volatile run in which local prices had softened only briefly before turning higher again, showing that domestic demand is still chasing the global uptrend rather than standing aside.

The international backdrop is helping to drive that demand. Gold futures on COMEX rose to 4,325.3 an ounce on Aug. 5 from 4,095.4 the previous day, while GLD, the biggest U.S. gold ETF, jumped to 389.64 from 374.16, with trading volume more than doubling to 14.7 million shares. The ETF’s relative strength index was 69.5, signaling momentum is again rebuilding after a volatile pullback.

That rebound comes as macro pressure points remain in focus. U.S. 10-year Treasury yields were at 4.668% in the latest forecast, up from 4.63% on Aug. 4, while WTI crude was seen near $84.71 a barrel after swinging between $81.96 and $86.16 in recent sessions. Inflation, still running well above pre-pandemic norms, leaves investors hedging against renewed price pressure, a backdrop that tends to support bullion when real yields stop rising.

The latest Adalytica Gold Fear & Greed Index also points to a crowded but powerful move, with sentiment at 93 and awareness at 100, both in “Extreme Greed.” For investors, that means the rally has strong momentum but also a higher risk of sharp reversals if bond yields or the dollar turn higher again.

Gold miners and bullion-backed products benefit from the renewed bid, while buyers of jewelry and local retail bars face higher entry costs. The next catalyst is likely to come from U.S. rate expectations, Treasury yield moves and any further strength in global gold futures, all of which will determine whether Vietnam’s sharp price jump extends or stalls.