Gold Prices Surge in Local Markets

In a surprising turn of events, the Saigon Jewelry Company reported a significant 1.67% increase in gold bar prices, reaching VND121.5 million (US$4,668.86) per tael. Notably, a tael is equivalent to 37.5 grams or 1.2 ounces.

Global Gold Market Trends

Contrastingly, the global spot gold experienced a 3% decline, settling at $3,281.6 an ounce after recently hitting record highs. This fluctuation has sparked discussions among investors and market analysts.

Investor Sentiments and Market Reactions

Jim Baird, chief investment officer at Plante Moran Financial Advisors, highlighted the market's positive reception to potential easing in U.S.-China trade tensions. Meanwhile, concerns linger over U.S. President Donald Trump's tariff policies and their impact on the economy and investor confidence in U.S. assets.