The difference between domestic and international gold prices has reached 16 million VND, increasing the risk. - Vietnam.vn

AI desk brief

Gold is holding near $4,000/oz as traders await the Fed, with bullion flat after a 0.5% gain the prior session; the article also flags a widening Vietnam domestic/international premium to about 16 million VND/oz, versus only a few million in mid-August. Domestic SJC bars were quoted at 138.7-141.7 million VND/oz, while the implied world price is about 126 million VND/tael excluding taxes and fees, reflecting strong local store-of-value demand and constrained imports.

On the global side, strategists said the recent sell-off has not yet confirmed a deeper downtrend, but a strong dollar, persistent inflation, higher yields and Iran/oil-linked inflation risks are capping upside. Several analysts see the $3,950-$4,100/oz zone as an important support band, with a possible rebound if the move below $4,000 proves excessive; one bearish scenario cited a slide toward $3,500/oz if macro pressure persists.