Vietnam's Gold Market Adjusts

In Vietnam, the price of gold rings experienced a slight decrease, settling at VND84.3 million per tael. It's important to note that a tael is equivalent to 37.5 grams or 1.2 ounces.

Global Gold Prices on the Rise

On the global stage, gold prices saw a modest increase on Monday. Investors are keenly awaiting the U.S. Federal Reserve's interest rate outlook and the tariff policies of President-elect Donald Trump. These factors are anticipated to influence gold's trajectory in 2025, as reported by Reuters.

Spot gold prices rose by 0.2% to $2,626.30 per ounce, while U.S. gold futures increased by 0.3% to $2,638.70.

Market Analysis

Kelvin Wong, OANDA's senior market analyst for Asia Pacific, commented on the situation, stating, "The dollar index has remained relatively flat, aiding gold in maintaining its sideways movement." He further added, "Geopolitical tensions have significantly contributed to gold's upward trend this year and are expected to remain a key narrative in 2025, especially with Trump's policies coming into play."

This year, gold has seen an impressive gain of over 27%, reaching an all-time high of $2,790.15 on October 31. This surge has been driven by substantial Federal Reserve rate cuts, including a significant reduction in September, alongside increased geopolitical uncertainties.