Gold prices drop to 13-month low

Saigon Gold Jewelry Company gold bar price dropped 0.72% to VND138 million (US$5,378.96) per tael, its lowest since Oct. 3, 2025.

The rate has fallen 9.7% since the start of the year and is roughly VND16 million per tael higher than global prices.

Gold ring price also slumped 0.72% to VND137.8 million per tael on Friday. A tael equals 37.5 grams or 1.2 ounces.

Globally, gold prices rose slightly on Friday, rebounding from the previous session’s lowest level in more than a year, but remained set for a weekly decline as rising oil prices fueled inflation concerns and strengthened expectations that U.S. interest rates would stay elevated for longer.

Spot gold rose 0.2% to US$3,883.05 per ounce after dropping 3% in the previous session. Bullion has declined 4.4% far this week. US gold futures for December delivery steadied at US$3,887, according to Reuters.

A person holds gold bars at a store in Ho Chi Minh City. Photo by VnExpress/Quynh Tran

Rajeev De Mello, global macro portfolio manager at GAMA Asset Management SA, told Bloomberg that the decline "at the end of the New York session was concerning but correlated well with the rising bond yields."

Friday’s gain "can only be explained by reserve managers stepping in," after gold slipped below $4,000 an ounce earlier this week, he added.

The metal had previously approached that key psychological threshold in July and again in late October, with buying from long-term investors, including central banks and large institutions, as well as Chinese households, helping support prices. Nevertheless, futures remain on track for a weekly decline.