Gold Prices Experience a Slight Decline

The price of gold rings has similarly seen a decrease, now at VND99.7 million per tael. It's noteworthy that a tael equals 37.5 grams or 1.2 ounces.

Global Rebound in Gold Prices

On a global scale, gold prices have rebounded this Tuesday from a near four-week low, as concerns over the escalating trade war between the United States and its major trading partners have increased the demand for safe-haven assets, according to Reuters.

Spot gold witnessed a 0.5% increase, reaching $2,996.6 an ounce, after hitting its lowest level since March 13 on Monday.

Trade War Escalation and Its Impact

U.S. President Donald Trump intensified tariff threats against China, while the European Union has outlined plans for retaliatory duties. These developments have heightened fears of a prolonged trade war that could potentially lead the global economy into recession.

"The escalation of the trade war could trigger a global recession, and that is driving safe-haven demand," stated Jigar Trivedi, a senior analyst at Reliance Securities.

Despite recent fluctuations, the bullish undertone suggests that gold remains strong and is expected to continue its upward trend.

Gold, revered as a safe investment during times of political and financial uncertainty, reached an all-time peak of $3,167.57 on April 3.