Vietnam gold prices plunge nearly 28% from 2026 peak amid global AI stock sell-off

Domestic gold, silver prices slide

In Vietnam, gold prices have dropped 27.6 percent from a peak of VND192 million ($7,438) to VND139 million ($5,385) per tael.

By the end of Saturday, SJC gold bars were quoted at VND136 million ($5,268) per tael for buying and VND139 million ($5,385) for selling, down VND4 million ($155) from their weekly peak on October 29.

Prices remained unchanged on Sunday morning, with SJC, DOJI, PNJ, and Bao Tin Manh Hai maintaining the same buying and selling rates.

Meanwhile, SJC gold rings were priced at VND131.8 million ($5,106) for buying and VND135.8 million ($5,261) for selling, while DOJI quoted VND133.8 million ($5,183) and VND137.8 million ($5,338), respectively.

The sharp volatility has prompted gold dealers to widen their buy-sell spreads to manage risks, with some reaching VND4 million ($155) per tael.

Silver investors in Vietnam have suffered heavy losses as prices continued to slide.

At $49.25 per ounce, global silver prices were equivalent to approximately VND1.54 million ($60) per tael, based on bank-listed exchange rates.

Ancarat quoted silver at VND1.603 million ($62.1) per tael for buying and VND1.656 million ($64.2) for selling, their lowest levels in several months.

Meanwhile, Phu Quy listed silver at VND1.606 million ($62.2) per tael for buying and VND1.656 million ($64.2) for selling.

Analysts expect silver prices to remain under pressure amid weakening industrial and jewelry demand.

Global gold sell-off deepens as AI stocks tumble

Global gold prices dropped $146, or 3.64 percent, in the final trading session of the week, closing at $3,876.4 per ounce on Saturday, their lowest level in a year.

The decline, equivalent to nearly VND4.6 million ($178) per tael, brought the international gold price to roughly VND121.6 million ($4,711) per tael at bank-listed exchange rates.

The sell-off was attributed to investors liquidating gold holdings to cover losses in their stock portfolios as AI-related shares came under heavy selling pressure.

Silver also tumbled 5.84 percent to $49.25 per ounce, its lowest level in 11 months.

Gold has now lost around 30 percent from its January 2026 peak of $5,600 per ounce.

The U.S.-Iran war has pushed up energy prices and fueled global inflation concerns, raising expectations that central banks may keep interest rates elevated for longer.

The U.S. Federal Reserve, European Central Bank, and Bank of Japan all left interest rates unchanged this week.

According to CME Group's FedWatch Tool, the probability of a Fed rate hike in December has fallen to around 70 percent from 90 percent at the beginning of October.

Analysts remain divided on gold's outlook.

Some expect strong buying interest whenever prices dip below $4,000 per ounce, while others warn of further declines.