Record-Breaking Gold Prices

In an unprecedented event, gold prices set new records twice in one day, with Saigon Jewelry Company's gold bar price rising 0.3% to a record VND101.8 million (US$3,980.45) per tael, after an earlier surge of 0.8%. Similarly, gold ring prices increased by 0.29% to VND101.9 million per tael.

Global Gold Market Trends

Globally, gold hit a record high, poised for its biggest quarterly gain in over 38 years. Spot gold jumped 1.1% to $3,116.82 an ounce, following an all-time high of $3,128.06. U.S. gold futures also saw a 1.1% increase to $3,148.00.

Factors Driving the Rally

The surge in gold prices is attributed to concerns over global trade wars, interest rate cut bets, central bank buying, and ETF demand. This quarter, gold has risen over 18%, marking its largest gain since September 1986.

Upcoming Tariff Announcements

Amidst these developments, U.S. President Donald Trump is expected to announce reciprocal tariffs, adding another layer of uncertainty to the global economic landscape.