Gold coins for sale in a shop in Hanoi in March 2025. Photo by VnExpress/Giang Huy
Vietnam gold price rose Saturday morning as global rates inched up.
Saigon Jewelry Company gold bar went up by 0.13% to VND156.6 million (US$5,951.57) per tael.
Gold ring added 0.13% to VND153.5 million per tael. A tael equals 37.5 grams or 1.2 ounces.
Globally spot gold rose 0.4% to $4,347.07 an ounce and logged a weekly gain of 1.1%. U.S. gold futures settled 0.5% higher at $4,387.3.
Spot silver rose 2.6% to $67.14 an ounce, ending the week 8.4% higher after hitting a record high of $67.45 in the session.
“Gold and silver are highly correlated and typically gold leads but the last two months, we saw silver lead. So, whenever you see spread that wide, people will start to pick on gold and tighten on it in the short term,” said Michael Matousek, head trader at U.S. Global Investors.
Silver has soared 132% this year, far outpacing gold’s 65% rise, driven by robust investment demand and supply constraints.
