Gold Prices Experience a Slight Decline

After reaching a historic peak of VND102.1 million per tael on Tuesday morning, gold prices have seen a slight decrease. A tael, which equals 37.5 grams or 1.2 ounces, is now priced slightly lower, reflecting the volatile nature of the market.

Global Gold Market Trends

Globally, gold prices edged higher on Wednesday as investors turned to the safe-haven metal amidst anticipation of new reciprocal tariffs by U.S. President Donald Trump. Spot gold was up 0.1% at $3,113.24 an ounce, despite hitting an all-time high of $3,148.88 on Tuesday.

Expert Insights on Gold's Rally

Philip Newman, managing director of Metals Focus, attributes the record highs to safe-haven buying and ongoing geopolitical uncertainty. Factors such as a potential U.S. economic slowdown, higher inflation, and interest rate cuts could propel gold to $3,300 in the coming months.

The rally is further supported by strong central bank demand, expectations of Federal Reserve rate easing, and increased investments in gold-backed exchange traded funds, highlighting gold's role as a hedge against political instability and inflation.