Gold Market Hits New Peak

Saigon Jewelry Company gold bar witnessed a 0.29% increase, reaching VND102.1 million (US$3,985.17) per tael. Similarly, gold rings also saw a rise by the same rate to the same price point. It's noteworthy that a tael is equivalent to 37.5 grams or 1.2 ounces.

Vietnamese Gold Market Trends

Since the start of the year, gold prices in Vietnam have escalated by over 21%, marking a significant uptick in the market.

Global Gold Prices Break Records

On the global stage, gold prices continued their upward trajectory, achieving a historic high of $3,128.06. Spot gold experienced a 1.31% rise to $3,124.34 an ounce, while U.S. gold futures climbed 1.2%, settling at $3,150.30.

Economic Outlook and Market Fears

Analysts from Goldman Sachs have adjusted their U.S. recession probability forecast from 20% to 35%, citing anticipated tariff announcements by Trump. Talley Leger, a chief market strategist, highlighted concerns over stagflation, describing it as a detrimental scenario for stocks due to potential earnings deceleration and inflationary pressures.