Gold Prices on the Rise

In a significant market movement, the price of gold rings has seen a slight increase, marking a 0.11% rise to VND87.9 million per tael. It's noteworthy that a tael is equivalent to 37.5 grams or 1.2 ounces.

Global Gold Market Trends

On the international front, gold prices have surged close to an all-time high, with Friday marking the fourth consecutive week of gains. This upward trend is largely attributed to the uncertainty surrounding U.S. President Donald Trump's trade policies, which has led to a weakened dollar and, consequently, a heightened demand for gold as a safe-haven asset, as reported by Reuters.

Spot gold experienced a 0.8% jump, reaching $2,774.49 per ounce, and has accumulated a gain of over 2% this week alone. Earlier in the day, prices peaked at $2,777.10, nearing the record high of $2,790.15 set on October 31. Similarly, U.S. gold futures saw a 0.6% increase, settling at $2,781.80.

Market Reactions and Analyst Insights

Jigar Trivedi, a senior analyst at Reliance Securities, commented on the situation, stating, "The dollar's decline followed Trump's remarks, which went against market expectations... This drop is a direct result of his hesitation to impose aggressive tariffs since taking office."

Trump's call for an immediate reduction in interest rates, coupled with a lack of clarity on tariff policies, has left investors in a state of anticipation, awaiting further policy announcements from global central banks.

This ambiguity regarding future policies has driven market participants towards safe-haven assets like gold, aiming to hedge against potential volatility.