Gold Prices in Vietnam Show Steady Increase

Saigon Jewelry Company gold bar saw a slight increase of 0.17%, reaching VND120.8 million (US$4,626.58) per tael. Similarly, gold rings experienced a 0.18% rise to VND117.2 million per tael. This marks a significant 43.5% increase in gold prices within Vietnam this year.

Global Gold Prices Edge Higher

On the global stage, gold prices experienced a modest uptick. Spot gold rose by 0.3% to $3,322.46 per ounce, while U.S. gold futures also saw a 0.3% increase, settling at $3,331. This movement comes as the dollar and bond yields slightly retreated, and investors closely monitor ongoing trade negotiations and tariff wars initiated by U.S. President Donald Trump.

Market Reaction to Tariff Wars

"The market impact of tariffs seems to lessen with each new headline. Tariff fatigue is here, and traders need a new catalyst to awaken volatility from its lull," commented Matt Simpson, a senior analyst at City Index. The analysis suggests that lower yields and a weaker dollar are making gold a more attractive investment, as they reduce the opportunity cost of holding non-yielding bullion and make gold cheaper for holders of other currencies, respectively.