Gold bars at a store in Ho Chi Minh City. Photo by Read/Thanh Tung
Vietnam gold prices rose Monday morning amid a hike in global bullion rates.
Saigon Jewelry Company gold bar price gained 0.86% to VND188.6 million (US$7,218.87) per tael. Other sellers similarly raised their rates.
Gold ring price increased by a similar rate to VND188.4 million per tael. A tael equals 37.5 grams or 1.2 ounces.
Globally, gold prices rose on Monday after the U.S. and Israel launched major strikes on Iran, escalating geopolitical tensions and deepening global economic uncertainty, Reuters reported.
Spot gold was up 1% at $5,329.39 an ounce after hitting its highest point in more than four weeks. Earlier in the session, bullion prices climbed as much as 2%. U.S. gold futures rose 1.8% to $5,342.80 per ounce.
“Gold is perhaps the finest barometer to reflect global uncertainty and, to mix metaphors, the mercury is rising. We should expect gold to be repriced higher to fresh records as we enter a whole new era of geopolitical uncertainty,” said independent analyst Ross Norman.
Bullion, a traditional safe-haven asset, has hit successive record highs already this year due to heightened global political and economic uncertainty.
The latest rally builds on a 64% surge in 2025, driven by strong central bank buying, robust inflows into exchange-traded funds and expectations of U.S. monetary policy easing.
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