Gold Prices Hit Record High

In an unprecedented surge, gold prices have skyrocketed, with the price of gold rings increasing by 0.96% to VND94.3 million per tael. A tael, a traditional Asian unit of weight, equals 37.5 grams or 1.2 ounces.

Global Economic Factors Driving Gold Demand

Globally, gold prices have edged up as ongoing uncertainties over tariffs fuel the demand for safe-haven assets. Additionally, a cooler-than-expected U.S. inflation print has supported the dollar by bolstering expectations for rate cuts, as reported by Reuters.

Spot gold saw a 0.1% increase to $2,934.08 an ounce, while U.S. gold futures slightly eased by 0.1% to $2,943.70.

Future Projections for Gold Prices

"I think $3,000 is the next logical target, likely to be reached sometime over the next several months," said Marex analyst Edward Meir, indicating a bullish outlook for gold prices in the near future.