Historic Surge in Gold Prices

Saigon Jewelry Company's gold bar experienced a significant increase, rising by 5.08% to VND124 million (US$4,781.74) per tael, while the gold ring saw a 2.22% increase to VND116.9 million per tael.

Global Gold Market Trends

Globally, gold prices have reached a record high, surpassing the $3,500 mark, driven by investor concerns over economic uncertainties and the tension between U.S. President Donald Trump and Federal Reserve Chair Jerome Powell.

Spot gold was observed at $3,493.41 an ounce, after peaking at $3,500.05 per ounce during the trading session.

Investor Sentiment and Market Analysis

"Investors are increasingly avoiding U.S. assets due to tariff concerns and the ongoing Trump-Powell conflict, positioning gold as a prime beneficiary of the dollar's challenges," noted Tim Waterer, chief market analyst at KCM Trade.

As a safe-haven asset, gold has appreciated by nearly 33% this year, reflecting its growing appeal amidst economic volatility.