Gold Prices Reach New Peaks

In a remarkable surge, the Saigon Jewelry Company reported a significant increase in gold bar prices, reaching VND99.8 million (US$3,906.45) per tael, marking a 0.4% rise from the morning. Notably, gold ring prices also saw a historic high, climbing 0.3% to VND100 million per tael for the first time ever.

Global Gold Market Responds to Tensions

On a global scale, gold prices hit a record high on Wednesday, propelled by escalating tensions in the Middle East and uncertainties surrounding U.S. tariffs. This surge underscores gold's status as a safe-haven asset amidst market volatility. Spot gold increased by 0.2% to $3,039.38 an ounce, with U.S. gold futures also rising by 0.2% to $3,046.40.

Expert Insights on Gold's Trajectory

Market strategist Yeap Jun Rong from IG highlighted the factors driving gold's appeal, including geopolitical tensions, global economic risks, and tariff uncertainties. Matt Simpson, a senior analyst at City Index, projected that gold futures could reach $3,200 in just over a month, signaling a bullish outlook for the precious metal.