Gold Ring Price Increase

In a significant uptick, the price of gold rings has surged by 0.45%, reaching VND90.2 million per tael. It's noteworthy that one tael is equivalent to 37.5 grams or 1.2 ounces.

Global Gold Market Trends

On the global stage, gold prices have shown resilience, edging up on Monday and maintaining proximity to a record high achieved in the previous session. This trend is attributed to investors flocking towards gold as a safe-haven asset amidst escalating concerns over a global trade war, spurred by U.S. President Donald Trump's imposition of fresh tariffs, as reported by Reuters.

Spot gold witnessed a 0.3% increase, settling at $2,868.66 per ounce, following a record high of $2,886.62 on Friday. Concurrently, U.S. gold futures experienced a 0.2% rise, reaching $2,894.00.

Expert Analysis on Gold Prices

"The ongoing global trade tensions are significantly influencing the market, potentially driving gold prices to a range of $2,900 to $2,910 in the near future," stated Kelvin Wong, OANDA's senior market analyst for Asia Pacific.

"At this point, a correction seems unlikely unless there's a substantial strengthening of the U.S. dollar," Wong added.

Gold is traditionally viewed as a secure investment during periods of economic and financial instability. However, its allure can be diminished by higher interest rates, which affect the appeal of this non-yielding asset.