Gold Prices Experience Marginal Increase

In a recent development, the price of gold rings has seen an increase of 0.46%, reaching VND86.7 million per tael. It's noteworthy that a tael is equivalent to 37.5 grams or 1.2 ounces.

Global Market Trends

On a global scale, gold prices have risen for the second consecutive session this Tuesday. This increment is attributed to the weakening of the dollar, as markets are keenly assessing the potential impacts of U.S. President Donald Trump's policies during his second term following his inauguration, as reported by Reuters.

Spot gold experienced a 0.6% increase, reaching $2,724.74 per ounce. Conversely, U.S. gold futures saw a slight decrease of 0.2%, settling at $2,742.50.

Market Analysts' Perspective

"There's a noticeable sense of relief in risk sentiment, knowing that tariffs haven't been an immediate focus. The reduction in bets on imminent trade tensions is most visible in the U.S. dollar," stated IG market strategist Yeap Jun Rong.

"The mixed dynamics currently support gold prices, and we may anticipate gold to remain an attractive hedge instrument. The $2,720 level will be a key resistance to monitor."