Vietnam’s central bank resumed gold bar auctions after an 11-year break, selling 3,400 taels of gold amid soaring domestic prices that have exceeded global rates significantly. This auction, where only a small fraction of the offered gold was sold, aims to stabilize the local market where prices had surged to 18 mln dong above the international price per tael at times this year. Subsequently, Societe Generale noted that it expects the dong to appreciate. Analysts suggest that a reduction in domestic USD demand and an improvement in global investor sentiment could bolster the dong, given Vietnam’s strong economic fundamentals.