A customer tries on gold jewelry at a store in Ho Chi Minh City. Photo by VnExpress/Thanh Tung
Vietnam gold bar price rose 0.33% to VND91 million (US$3,604.67) per tael Thursday morning, highest since May last year.
Gold ring went up 0.33% to VND90.5 million per tael. A tael equals 37.5 grams or 1.2 ounces.
Globally gold prices edged higher on Thursday, hovering near record highs hit in the previous session, as tensions in the China-U.S. trade war lifted safe-haven demand, while investors awaited the U.S. jobs data for clues on the future direction of interest rates, Reuters reported.
Spot gold was steady at $2,870.16 per ounce, by 0306 GMT, after hitting an all-time peak of $2,882.16 in the previous session.
U.S. gold futures shed 0.2% to $2,888.30.
“Investors are trying not to miss this rally as they place their position because they are happy with the returns. That’s the reason why it’s hitting successive highs,” said Soni Kumari, a commodity strategist at ANZ.
“Bullion could hit the $3,000 level soon … however, what could make the market consolidate will be some clarity on trade ties or easing trade tensions.”
