Gold Market Volatility
Gold Prices Pull Back Across Vietnam and India Ahead of Federal Reserve Decision
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Key Points
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PNJ Hanoi listed gold bars at the same 143.5 million VND buying and 146.5 million VND selling prices as SJC; an investor holding five ounces bought at the Aug. 25 peak would face a potential loss of about 35.5 million VND if selling now.
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In Jharsuguda, 24-karat gold reached a high of ₹163,980 per 10 grams in August before ending the month at ₹158,230; the September rate of ₹153,160 remained well above July’s month-end level of ₹144,340.
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Vietnamese ring prices showed a split between brands: SJC rings were unchanged at 141.8 million VND per ounce for buying and 144.8 million VND for selling, while DOJI Hung Thinh Vuong and Bao Tin Minh Chau rings rose by 200,000 VND to 142.7 million and 146.7 million VND, respectively.
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Jesse Colombo, founder of BubbleBubble Report, said a further 25-basis-point Fed rate increase could allow gold to rebound slightly by removing uncertainty, while a decision to leave rates unchanged could send gold toward $5,000 an ounce.
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One CentralCharts analysis advised traders to favor long positions because short-term indicators were broadly bullish, but warned that excessive upward movement could trigger a brief correction; it also emphasized that the analysis was informational and not investment advice.
Gold prices pulled back sharply in Vietnam and India during September after peaking in late August, leaving some buyers with significant losses. Vietnamese gold bars (SJC, PNJ, DOJI, Phu Quy) traded at about 143.5 million VND per ounce for buying and 146.5 million VND for selling on Sept. 17 Business Today, down from their late-August peak — a drop of roughly 7.1 million VND per ounce.
In India, 24-karat gold in Jharsuguda fell to ₹153,160 per 10 grams on Sept. 16, down ₹930 from the previous day The Hans India, though still well above July levels. Global spot gold declined nearly $10 to around $4,285 per ounce, driven by a stronger dollar and higher oil prices. Traders are watching the Federal Reserve closely. If the Fed hikes rates, gold could rebound. If rates stay unchanged, analysts say gold could surge toward $5,000 per ounce Business Today.
Vietnam buyers face steep losses from August peak
Vietnamese gold investors who bought at the August 25 peak are now underwater. An investor holding five ounces purchased at that peak would face a potential loss of about 35.5 million VND if selling now Business Today. Major dealers SJC, PNJ, DOJI, and Phu Quy are all listing bars at roughly the same price, showing the market has broadly consolidated after the sharp drop.
Indian prices remain elevated despite September decline
Gold in India's Jharsuguda region hit a peak of ₹163,980 per 10 grams in August before falling to ₹158,230 at month's end Business Today. By September 16, the price had dropped further to ₹153,160 The Hans India. Despite the recent pullback, prices remain substantially higher than July's close of ₹144,340 per 10 grams, keeping retail demand under pressure.
Vietnam's gold ring market splits between stable and rising prices
Vietnamese gold ring prices showed mixed signals in mid-September. SJC rings remained unchanged at 141.8 million VND per ounce for buying and 144.8 million VND for selling Business Today. However, DOJI Hung Thinh Vuong and Bao Tin Minh Chau rings both rose by 200,000 VND, reaching 142.7 million and 146.7 million VND respectively Business Today. The split suggests uneven demand across brands.
Federal Reserve decision could send gold toward $5,000 an ounce
Gold's next major move depends on the Federal Reserve's interest rate decision. Jesse Colombo, founder of BubbleBubble Report, said a 25-basis-point rate hike could trigger a modest rebound by clearing market uncertainty Business Today. But if the Fed leaves rates unchanged, Colombo predicted gold could surge toward $5,000 per ounce Business Today. Technical analysts at CentralCharts favor long positions based on bullish short-term indicators, though they warn that overextended upward moves could spark a brief correction.
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