Gold Ring Price Sees Increase

The price of gold rings has similarly risen, now standing at VND97.7 million per tael. It's noteworthy that a tael is equivalent to 37.5 grams or 1.2 ounces.

Global Gold Market Trends

On a global scale, gold prices experienced a slight uptick this Tuesday. This movement is largely attributed to the ongoing uncertainty surrounding the Trump administration's impending tariff decisions, which have sparked fears of a potential U.S. economic slowdown and rising inflation rates, as reported by Reuters.

Spot gold witnessed a 0.1% increase, reaching $3,015.66 per ounce, while U.S. gold futures also saw a 0.1% rise to $3,019.70.

Expert Insights

"The ambiguity regarding the scale and impact of the upcoming U.S. reciprocal tariffs persists... Gold remains a favored hedge against unforeseen developments," commented IG market strategist Yeap Jun Rong.

Political Impact on Gold Prices

President Donald Trump's recent statements about impending automobile tariffs, coupled with hints that not all threatened levies would be enforced by April 2, have been interpreted by Wall Street as a potential softening stance. This development comes after weeks of market turmoil fueled by tariff-related anxieties.

Analysts broadly agree that Trump's tariff policies could dampen economic growth, exacerbate trade tensions, and accelerate inflation, further cementing gold's status as a reliable safe-haven asset during periods of geopolitical and economic instability.