A person holds gold jewelry at a shop in Ho Chi Minh City. Photo by Read/Quynh Tran
Saigon Jewelry Company gold bar price rose 0.35% to VND87.2 million (US$3,452.10) per tael Tuesday morning.
Gold ring price went up 0.46% to VND86.7 million per tael. A tael equals 37.5 grams or 1.2 ounces.
Globally gold prices rose for a second session on Tuesday as the dollar weakened, with markets evaluating the possible consequences of U.S. President Donald Trump’s policies in his second term after his inauguration, Reuters reported.
Spot gold gained 0.6% to $2,724.74 per ounce. U.S. gold futures was 0.2% lower at $2,742.50.
“There is a sense of relief in risk sentiment to know that tariffs have not been an immediate focus. The unwinding of bets on imminent trade tensions is most evident in the U.S. dollar,” IG market strategist Yeap Jun Rong said.
“The mixed dynamics do see gold prices holding up for now and we may expect gold to remain an attractive hedge instrument. The $2,720 level will be an immediate resistance to watch.”
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