Gold bars at a store in Ho Chi Minh City. Photo by Read/Quynh Tran
Vietnam gold bar price rose Wednesday morning as global bullion rates surged to a new all-time high.
Saigon Jewelry Company gold bar price increased by 0.13% to VND159.2 million (US$6,051.51) per tael. Other sellers quoted the same rate. Prices have gained 89.5% in the year to date.
Gold ring price was firm at VND155.6 million per tael. A tael equals 37.5 grams or 1.2 ounces.
Globally, gold and silver extended their bullish run to new all-time highs on Wednesday on safe-haven demand and expectations of rate cuts as 2025 draws to a close, Reuters reported.
The metals were again the big movers in early Asian trade. Spot gold prices climbed 0.8% to another all-time high of $4,524 per ounce, bringing the gain for this year to 72%. Silver jumped 1.2% to a record $72.27 per ounce, and was set for an annual rise of almost 150%, its best year ever.
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