The price of gold in Vietnam increased modestly on Saturday morning as the valuable metal saw gains worldwide prior to a trade discussion between the United States and China.
The Saigon Jewelry Company’s gold bar price rose by 0.41%, reaching VND122 million (US$4,696.19) per tael.
The gold ring remained stable at VND116.6 million per tael. It should be noted that one tael is equivalent to 37.5 grams or approximately 1.2 ounces.
The price of gold has increased by approximately 45% since the start of the year.
Worldwide, gold prices climbed more than 1% on Friday as the dollar weakened slightly. Meanwhile, traders assessed remarks about tariffs made by U.S. President Donald Trump before a key weekend discussion between the United States and China.
Reuters
reported.
Spot gold increased by 1.1%, reaching $3,340.29 per ounce, marking a total gain of 3.1% for the week so far.
Gold, recognized as a safeguard during geopolitical and economic instabilities, has surged over 27% since the beginning of the year.
“The ongoing ambiguity surrounding tariffs undoubtedly continues to be one of the key factors supporting gold prices,” stated David Meger, who directs metal trades at High Ridge Futures.
We aren’t as positive about gold now compared to recent months. It might be entering a phase where prices stabilize or pull back for some time.
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