Gold Prices Hold Steady Post Peak

Saigon Jewelry Company reported a slight adjustment in gold bar prices, now at VND97.4 million (US$3,798.76) per tael, following a historic high of VND100.4 million last Thursday. Similarly, gold ring prices saw a modest increase of 0.1% to VND97.1 million per tael, after reaching a record VND100.7 million.

Global Gold Market Trends

On the global stage, gold prices remained largely unchanged as the market anticipates new developments. Recent highs were driven by geopolitical tensions and speculation around U.S. rate cuts. Spot gold held steady at $3,025.38 an ounce, with U.S. gold futures experiencing a slight uptick to $3,029.70.

Expert Insights

Tim Waterer, chief market analyst at KCM Trade, suggests that gold's upward trajectory could continue, contingent on market sentiment regarding tariffs and potential ceasefire agreements between Russia and Ukraine. However, the possibility of less severe tariffs than initially feared may temper some of the market's anxiety and gold's momentum.

The Role of Gold in Uncertain Times

Gold's reputation as a safe-haven asset is reinforced by its ability to hedge against geopolitical and economic uncertainties, as well as inflation. Its zero-yield nature makes it particularly attractive during volatile periods.