Gold prices today (October 21): Following the downward trend in the global market. - Vietnam.vn

AI desk brief

Vietnam domestic gold prices fell 300,000-500,000 VND per tael at the open on Oct. 21, with SJC bars quoted around 139.3-142.3 million VND/tael at several retailers and spreads still wide at 3.0-4.2 million VND/tael. Ring gold was also softer, while Doji’s 9999 ring price was unchanged at 138.5-142.5 million VND/tael.

Globally, spot gold was at $4,117.7/oz at 08:52 local time, down 0.16%, after trading between $4,105 and $4,156/oz and staying below the $4,120/oz area. Market commentary ties the pullback to higher inflation expectations, rising bond yields and a firmer dollar, with StoneX’s Bob Haberkorn flagging $4,000/oz as the key support to watch.

The article notes that Fed messaging remains the main catalyst near term: September’s 25 bp hike, easing expectations for another October move, and the possibility that geopolitical risk, debt concerns and reserve diversification continue to underpin gold longer term.