People hold gold jewels at a shop in Ho Chi Minh City. Photo: by vnexpress/thanh tung
Vietnam’s gold prices rose on Monday morning after plunging from record highs over the weekend.
Saigon Jewelry Company’s gold bar price rose 3.5% per tail to VND 118 million (USD 4,561.27). Tael is equivalent to 37.5 grams or 1.2 ounces.
Previously, it peaked at VND120 million per Tael on last Friday, falling to VND115 million over the weekend.
Gold ring prices rose 3.08% per Tael after winning a record vnd1195 million last week.
Globally, gold prices surged to record highs on Monday, spurring concerns over global economic growth due to the Spiral Chino and the US trade war, further increasing the weaker dollar, further increasing the rally. Reuters It has been reported.
Spot Gold went from 1.7% to $3,383.87 after hitting a record high of $3,384 early in the session. US gold futures have gone from 2% to $3,396.10.
The dollar index hit its lowest level in three years, making gold more attractive to other currency owners.
China warned the country on Monday that it was attacking broader economic contracts with the US at its costs, and Trump reportedly wanted it from countries seeking tariff cuts or exemptions.
Meanwhile, Trump launched a series of attacks on Federal Reserve Chairman Jerome Powell on Thursday, assessing whether his team could fire Powell.
“Essentially, the market is priced at a heightened geopolitical risk driven by US tariff tensions and bull concerns, but central bank demand also provides an additional tailwind for prices.”
“While Gold’s next potential milestone could be at the $3,500 level, positioning could appear crowded in close conditions, and technical indicators suggest short-term acquisition terms,” Ron said.
