Gold Prices Reach New Peaks
In an unprecedented surge, the Saigon Jewelry Company has reported a significant increase in gold bar prices, soaring by 1.22% to a record VND99.4 million (US$3,892.32) per tael. This marks a VND14 million, or 16%, increase since the beginning of the year.

Global Gold Market Trends
On the global stage, gold prices have maintained their position above the crucial $3,000/oz mark, nearing the record high achieved in the previous session. This surge is attributed to escalating tensions in the Middle East and ongoing trade uncertainties, which have bolstered gold's appeal as a safe-haven asset.
Spot gold prices remained steady at $3,029.70 an ounce, following a peak of $3,038.26 on Tuesday. Meanwhile, U.S. gold futures slightly decreased by 0.1% to $3,037.50.
Investor Concerns and Economic Outlook
Investors are increasingly concerned about the potential for an economic slowdown and the heightened risk of recession, fueled by U.S. President Donald Trump's tariff policies. These tariffs are anticipated to inflate prices, thereby increasing inflation rates.
The Federal Reserve's upcoming decision on interest rates is highly anticipated, with expectations set for the benchmark rate to remain within the 4.25%-4.50% range. A low interest rate environment is favorable for non-yielding gold, enhancing its investment appeal.
Tim Waterer, KCM Trade's chief market analyst, highlighted the current trading environment's impact on gold's value, stating, "The current trading environment, where there are worries about tariffs, growth, and inflation, is playing to gold's strengths as an uncertainty hedge."
He further speculated on the potential outcomes of the FOMC meeting, suggesting that a dovish tone in response to tariff-related uncertainties could further boost gold prices, potentially pushing them above the $3,050 mark.
Comments