Gold Prices Soar to New Heights

In an unprecedented surge, gold prices have climbed back to record levels, with gold rings reaching VND93 million per tael. A tael, equivalent to 37.5 grams or 1.2 ounces, marks a significant milestone in the precious metal's valuation.

Global Market Dynamics

On the global stage, gold prices edged higher this Monday, buoyed by a weaker dollar and the metal's status as a safe haven amidst fears of a global trade conflict. Investors are keenly awaiting signals from the U.S. Federal Reserve regarding interest rates, as reported by Reuters.

Spot gold saw a 0.1% increase to $2,912.79 an ounce, while U.S. gold futures rose by 0.2% to $2,919.40. The dollar index lingered near a four-month low, making gold more affordable for international buyers.

Expert Insights

"With mounting downside risks to growth and U.S. foreign policy adding to the uncertainty, gold's appeal is undeniable," stated Kyle Rodda, a financial market analyst at Capital.com. He predicts, "We're likely to breach the $3,000 mark soon, possibly within the next couple of months."

Tariffs remain a pivotal concern, with potential impacts on economic growth and inflation. The upcoming U.S. Consumer Price Index (CPI) and Producer Price Index (PPI) data releases are highly anticipated.

Gold's Dual Role

Gold is not only a hedge against political risks and inflation but also faces challenges from higher interest rates, which can diminish its allure as a non-yielding asset.