Gold Prices Hit Unprecedented Highs

Gold prices have soared to a historic high, surpassing the previous peak of VND106.5 million per tael recorded just last weekend. A tael, equivalent to 37.5 grams or 1.2 ounces, is a traditional measure for gold in some markets.

Gold Rings Follow Suit

The price of gold rings also saw an increase, rising by 0.57% to VND105.6 million per tael. This figure is just 0.75% below the record high of VND106.4 million achieved last Friday.

Global Gold Market Trends

On the global stage, gold prices experienced a slight retreat from their record highs earlier in the week. This shift came as trade tensions showed signs of easing, following U.S. President Donald Trump's decision to exempt smartphones and computers from certain tariffs.

Spot gold was observed at $3,232.45 an ounce, marking a 0.1% decrease, despite hitting a record high of $3,245.42 earlier in the day. Meanwhile, U.S. gold futures saw a marginal increase of 0.1%, reaching $3,248.20.

Expert Insights

"The ongoing drama surrounding trade and tariffs has injected higher volatility and uncertainty into financial markets," noted Tim Waterer, chief market analyst at KCM Trade. "In such an environment, gold prices could potentially target $3,300 in the near term, especially if the dollar continues to show weakness."

Gold, which does not yield interest, is traditionally considered a safe haven during times of economic uncertainty and inflation.