Gold Ring Price Sees Significant Increase

Gold ring price has witnessed a notable jump of 0.80%, reaching VND100.7 million per tael. It's important to note that a tael is equivalent to 37.5 grams or 1.2 ounces.

Global Gold Prices Hit Record Highs

This week, the safe-haven metal has consistently achieved unprecedented levels as global rates skyrocket to new highs. Since the beginning of the year, Vietnam's gold price has surged by 19%.

Federal Reserve's Hint at Rate Cuts Boosts Gold's Appeal

On Thursday, gold globally rose to an all-time high as the Federal Reserve hinted at two possible interest rate cuts this year. This move has bolstered bullion's appeal amidst ongoing geopolitical and economic woes, as reported by Reuters.

Spot gold was up 0.1% at $3,049.89 an ounce, having reached an all-time high of $3,055.96 earlier in the session.

Driving Forces Behind Gold's Rally

According to Dick Poon, general manager at Heraeus Metals Hong Kong Ltd., gold is driven by a combination of uncertain market situations, geopolitical tensions, a weaker U.S. dollar, and expectations of interest rate cuts later in the year.

The uncertainty surrounding tariffs, the potential for rate cuts, and the resurgence of tensions in the Middle East have all contributed to gold's record rally. This has prompted bullion to achieve 16 record highs in 2025, with four of them surpassing the $3,000 milestone.

Gold as a Hedge Against Uncertainties

Non-yielding gold is widely considered a hedge against global uncertainties and thrives in a low-interest-rate environment.

"Given the very good performance in gold through Q1, I think a correction is not out of the question," said Nicholas Frappell, global head of institutional markets at ABC Refinery.