Vietnam Gold Market Reaches New Highs

Saigon Jewelry Company gold bar climbed 0.37% to VND133.9 million (US$5,076.78) per tael, while gold ring increased 0.55% to VND128.7 million per tael.

Remarkably, gold prices in Vietnam have surged 59% so far this year, demonstrating strong investor confidence in the precious metal.

Global Gold Market Adjusts After Record Peak

Globally, gold experienced a slight pullback on Thursday with spot gold falling 0.3% to $3,546.73 per ounce, primarily due to profit-taking activities.

This correction follows Wednesday's record high of $3,578.50 per ounce, driven by expectations of impending U.S. interest rate cuts.

Expert Analysis and Future Projections

According to GoldSilver Central MD Brian Lan, "We've seen a bit of profit-taking, but gold is still in a bull market at this point in time. Rate-cut expectations and worries over the Federal Reserve's independence are going to add to safe-haven demand."

Lan further predicted, "We won't be surprised even if gold prices go up to $3,800 or even higher in the near-term," indicating strong continued bullish sentiment among market experts.