Record-Breaking Gold Prices

Saigon Jewelry Company has reported a significant increase in gold bar prices, soaring by 2.78% to a record VND111 million (US$4,294) per tael. Similarly, gold ring prices have escalated by 4.25% to VND110.5 million per tael, marking a new peak.

Global Gold Market Trends

On the global stage, gold has achieved a record high, with the dollar remaining under pressure. This surge is attributed to ongoing economic tensions between the U.S. and China, including potential new tariffs and trade reviews.

Economic Tensions and Gold's Safe Haven Status

Analysts suggest that the current trade dynamics and uncertainties are driving investors towards gold as a safe haven asset, with prices hitting a new record of $3,266.65 per ounce. ANZ predicts gold could reach $3,600 an ounce by year-end, highlighting the asset's growing appeal in risk-off scenarios.