Local Market Trends

In Vietnam, the Saigon Jewelry Company reported a slight decrease in gold prices, with a 0.24% drop to VND84.3 million per tael. It's important to note that a tael is equivalent to 37.5 grams or 1.2 ounces. Similarly, gold rings experienced a decline, falling by 0.24% to VND84.1 million per tael.

Global Market Overview

Contrastingly, the global gold market witnessed a modest increase on Tuesday. This uptick occurred amidst subdued trading during a holiday-shortened week. Investors are closely monitoring the potential impacts of U.S. President-elect Donald Trump's trade tariff policies and anticipating a less aggressive rate-cut trajectory from the Federal Reserve in the coming year, as reported by Reuters.

Specifically, spot gold saw a 0.3% rise to $2,620.83 per ounce, while U.S. gold futures edged up by 0.2% to $2,634.10.