In contrast to the market in Hanoi, gold dealers in Ho Chi Minh City saw a sharp increase in customer traffic on July 23. Most customers came to sell gold bars, gold rings and diamonds despite a steep decline in gold prices.

Phu Nhuan Jewelry Joint Stock Company, or PNJ, has approved plans to hire reputable international firms to independently assess the quality of its products, including diamonds and jewelry.

Confidence in Vietnam's diamond trade has weakened after a series of investigations and temporary business closures, leaving buyers increasingly cautious.