Gold Prices on the Rise

Gold ring price saw an increase of 0.31%, reaching VND98.5 million per tael, where a tael is equivalent to 37.5 grams or 1.2 ounces.

Global Market Reactions

Amid escalating global trade tensions, particularly due to U.S. auto tariffs, gold prices experienced a notable rise. Spot gold climbed by 0.3% to $3,028.65 an ounce, while U.S. gold futures advanced 0.5% to $3,036.10.

Impact of U.S. Tariff Policies

U.S. President Donald Trump's announcement of a 25% tariff on imported cars and light trucks has intensified fears among investors. These measures, set to take effect on April 2, could potentially spur inflation, hinder economic growth, and exacerbate trade disputes.

Gold's Record Performance

The uncertainty surrounding Trump's tariff policies recently propelled gold to a record high of $3,057.21 on March 20. Experts, including Aakash Doshi of SPDR ETF Strategy, predict that gold could surpass $3,100 in the second quarter, with a potential 8%-10% increase by the end of 2025.

Federal Reserve's Role

The U.S. central bank's decision to maintain benchmark interest rates, with hints of possible cuts later in the year, further supports the appeal of non-yielding bullion in a low interest-rate environment.