Gold prices plummeted today, October 26th, with SJC gold bars continuing their downward trend. - Vietnam.vn

AI desk brief

Gold sold off sharply last week as inflation concerns, higher oil prices and expectations of continued Fed tightening pressured prices lower. Spot gold opened the week at $4,164/oz, peaked at $4,190/oz Monday morning, then fell to a Friday low of $3,975/oz before ending the week at $3,996/oz; December 2026 futures were around $4,010/oz. Trading liquidity was cited as thin, with daily volume around 129,000 contracts, amplifying the downside as leveraged longs were forced to sell.

Domestic Vietnamese prices also weakened: SJC gold bars were quoted at 138.7-141.7 million VND/ounce on Oct. 24, down 300,000 VND/ounce on both sides, while Bao Tin Minh Chau plain gold rings fell to 136.8-140.8 million VND/ounce on Oct. 25. Kitco’s weekly survey showed a bearish lean, with 7 of 17 experts calling for further declines versus 4 for gains and 6 neutral/uncertain. Traders will watch this week’s Fed, BoC, ECB and BoJ decisions plus US growth, spending and housing data for the next catalyst.