Gold Ring Prices Soar to New Heights

In an unprecedented market movement, gold bar prices have surged by 1.2%, reaching VND92.7 million per tael. Notably, a tael is equivalent to 37.5 grams or 1.2 ounces. This remarkable increase signifies a 10% gain since the start of the year, highlighting the precious metal's growing allure among investors.

Global Gold Market Trends

On the global stage, gold experienced a slight decline on Wednesday, influenced by a stronger U.S. dollar and rising Treasury yields. This shift comes as markets keenly observe the potential repercussions of new U.S. tariffs, as reported by Reuters.

Spot gold decreased by 0.3% to $2,909.86 an ounce following a near 1% increase on Tuesday. Meanwhile, U.S. gold futures remained stable at $2,920.70.

Economic Indicators and Market Sentiments

The rebound in the benchmark 10-year U.S. Treasury yield from a four-month low, alongside a firmer dollar index, has somewhat diminished the appeal of non-yielding gold. Ilya Spivak, head of global macro at Tastylive, commented, "The modest decline in APAC trade reflects the market's digestion of the previous day's rally rather than any new catalysts pressuring gold."

Amidst this, President Trump's policies, often perceived as potential sources of economic uncertainty, have contributed to a 10% rise in safe-haven bullion this year.