A stronger VND has put heavy downward pressure on domestic gold prices, even though the world’s gold prices remain high. Dollar declines consecutivelyThe opening dong/dollar exchange rate on December 17 on the free market fell another VND50 to VND26,950 per dollar (selling price). USD supply in Vietnam is expected to be more abundant toward year-end thanks to exports and remittances, helping ease exchange rate pressure. SJC gold bars and SJC gold rings also fell sharply when converted according to the USD/VND exchange rate. The first is the conversion channel: at the same world gold price, a lower USD/VND rate will pull the VND-converted gold price down.

Source: VietNamNet News December 20, 2025 07:56 UTC