Gold Bar Price Hits Record High

Gold prices have surged to a new record, with the price per tael reaching VND106.4 million before slightly retreating to VND105.2 million. A tael, equivalent to 37.5 grams or 1.2 ounces, marks the weight measurement for these transactions.

Global Gold Market Trends

Internationally, gold prices exceeded the $3,200 mark, driven by a weakening dollar and escalating U.S.-China trade tensions. This has heightened recession fears, prompting investors to seek refuge in gold. Spot gold prices climbed nearly 2% to $3,235.89 an ounce, setting a new record at $3,245.28 during the session.

Expert Insights on Gold's Surge

"Gold is increasingly viewed as the premier safe-haven asset in these turbulent times," noted Nitesh Shah, a commodities strategist. The depreciation of the U.S. dollar has made gold more affordable for international buyers, further fueling its demand.

Tai Wong, an independent metals trader, anticipates continued growth for gold, citing potential Federal Reserve rate cuts and persistent downward pressure on the dollar as key drivers.

Why Gold Thrives in Uncertainty

As a non-yielding asset, gold serves as a traditional hedge against inflation and global uncertainties, flourishing especially in low-interest-rate environments.