Gold market from August 31st to September 6th: High volatility, buyers still incur losses. - Vietnam.vn

AI desk brief

SJC gold in Vietnam ended the week only slightly lower despite extreme intraday swings, with bars back at 145.6–148.6 million VND/oz on Sept. 6 versus 145.7–148.7 million VND/oz at the start of the week. The key takeaway for traders is that domestic holders still suffered mark-to-market losses largely because of a wide 3–4 million VND/oz buy-sell spread, not just the small week-on-week price move. A buyer early in the week and seller into the weekend would still be down roughly 3.1 million VND/oz, or about 2.1%.

The article highlights notable divergence across local brands and a persistent premium structure in Vietnam’s retail market. SJC, DOJI and PNJ broadly tracked each other lower after the Sept. 3 global selloff, while Mi Hong briefly lifted prices by about 1 million VND/oz, underscoring that local supply-demand conditions and dealer pricing policies are still driving short-term dispersion. Gold rings also traded with elevated spreads, with some outlets quoting as high as 146.5–150.5 million VND/oz.

Internationally, spot gold was far more volatile, swinging roughly $4,283–$4,514/oz over the week. The metal briefly fell to around $4,342/oz when US yields and the dollar rose, then rebounded to $4,488.54/oz after Fed Governor Waller’s dovish remarks and weaker rates/USD, before slipping again after the US jobs report to an intraday low near $4,364.99/oz. The week ended slightly lower, with the 200-day moving average cited as a technical trigger on the downside; near-term direction likely remains tied to Fed repricing, USD moves, and follow-through after payrolls.