---
title: "Gold prices decline to 8-week bottom"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/300414468.md"
description: "Vietnam gold prices hit an 8-week low, with Saigon Jewelry Company bars dropping 0.63% to VND141.5 million per tael. This follows a global dip driven by rising oil prices and inflation concerns, which bolster expectations for tighter monetary policy. Higher dollar yields further pressured the metal. Despite a recent 4% plunge, spot gold rose slightly to $4,138.90 per ounce. Vietnam's gold has fallen 7.40% year-to-date as investors shift toward yield-bearing assets."
datetime: "2026-09-29T09:55:11.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/300414468.md)
  - [en](https://longbridge.com/en/news/300414468.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/300414468.md)
generator: "portal-rs"
---

# Gold prices decline to 8-week bottom

Saigon Jewelry Company gold bar dropped 0.63% to VND141.5 million (US$5,448.80) per tael. A tael equals 37.5 grams or 1.2 ounces.

Gold ring declined 0.91% to VND142.2 million per tael. Gold prices in Vietnam have fallen 7.40% so far this year.

Globally gold was steady after a 4% plunge on Monday, as rising oil prices ‌stoked inflation concerns and bolstered bets on tighter monetary policy, while a higher dollar and Treasury yields created further headwinds for the metal, *Reuters* reported.

Spot gold was up 0.61% to $4,138.90 per ounce at the time of publishing.

Gold jewelry on display in a shop in Hanoi. Photo by VnExpress/ Hoang Giang

Oil rose about 3% after U.S. President Donald Trump rejected a peace deal from Iran to resolve their conflict and ‌reopen ⁠the Strait of Hormuz. Higher oil prices can feed into inflation, forcing central banks to adopt a higher-for-longer rate stance.

Although gold is traditionally considered an inflation hedge, higher rates dent its appeal as investors prefer yield-bearing assets.

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---
> **Disclaimer: This article is for reference only and does not constitute any investment advice.**