Gold jewelry seen at a shop in Ho Chi Minh City, Vietnam. Photo by VnExpress/Thanh Tung
Vietnam gold bar prices surged Monday morning and narrowed the gap with global bullion rates, which hit a three-month high.
Saigon Jewelry Company gold bar price start the week with a 1.63% gain to VND150 million (US$5,738) per tael.
Local rates were just VND1.5 million per tael higher than global prices, as against a VND15-20 million gap earlier this year.
Gold ring price rose 1.63% to VND149.5 million per tael on Monday. A tael is 37.5 grams or 1.2 ounces.
Globally, gold rose to its highest level in more than three months as the US Treasury’s intervention in the bond market renewed concerns over a weaker dollar and prompted investors to seek alternative assets.
The precious metal was up 0.8% at $4,637.64 an ounce after briefly climbing above $4,650, its highest intraday level since mid-May.
The Treasury’s efforts fueled worries that US policy could undermine confidence in the dollar and increase the appeal of other investments. The move revived the so-called debasement trade, which helped propel gold 65% higher in 2025.
“I see scope for macro money to pivot quite heavily into precious metals on the back of this currency debasement narrative,” Justin Lin, an analyst from Global X ETFs, told Bloomberg.