Gold Prices on the Rise

In a significant market movement, gold prices have witnessed a notable increase, with the gold ring price rising to VND100.4 million per tael. This adjustment reflects the global trend where gold is becoming a preferred safe-haven asset among investors.

Global Market Reactions

The global gold market reacted positively as the dollar weakened, making gold more affordable for international buyers. Spot gold saw a 0.6% increase to $3,000.13 an ounce, while U.S. gold futures climbed 0.8% to $3,014.40.

Investor Sentiment and Future Outlook

"The downward shift in the dollar on tariff worries effectively paved the way for gold to reclaim the $3000 level," noted Tim Waterer, KCM Trade chief market analyst. Despite some limitations due to U.S. benchmark 10-year note yield increases, gold's appeal remains strong, supported by global growth and inflation uncertainties.

Gold-backed exchange-traded funds have also seen the largest quarterly inflow in three years, indicating a robust investor confidence in gold's value amidst fluctuating market conditions.