Southeast Asia Information Port (www.dnyxxg.com) – Following the US Federal Reserve's decision on October 29th to cut interest rates by 25 basis points and Chairman Powell's policy guidance comments, gold prices in Vietnam fell sharply on the morning of October 30th.
Specifically, at 8:50 AM, the listed prices for gold bars at Saigon Gold, Silver and Gemstone Company and DOJI Group were VND 144.6 million and VND 146.6 million per tael (buying price - selling price), respectively, both down VND 1.5 million from yesterday's closing price.
The listed prices for gold jewelry at Saigon Gold, Silver and Gemstone Company were VND 142.6 million and VND 145.1 million per tael (buying price - selling price), both down VND 1.2 million from yesterday's closing price.
The listed prices for gold jewelry at DOJI Group were VND 143.5 million and VND 146.5 million per tael (buying price - selling price), both down VND 1.1 million from yesterday's closing price.
In international markets, despite the Federal Reserve's expected 25 basis point rate cut, gold prices narrowed their gains on October 29 as the market digested Chairman Powell's comments on policy direction.
At 2:10 AM Vietnam time on October 30, spot gold rose 0.3% to $3,964.39 per ounce, after rising as much as 2% earlier in the session. Gold futures for December 2025 delivery closed up 0.4% at $4,000.7 per ounce.
The Federal Reserve lowered its key interest rate to a three-year low of 3.75%-4.00%, achieving its second rate cut this year as investors had hoped. However, Powell expressed caution regarding future policy direction in his subsequent press conference. (End)
