A person holds gold jewelry at a shop in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
Saigon Jewelry Company gold bar rose 0.3% to VND97.9 million (US$3,819.74) per tael Tuesday afternoon as global rates inched up.
Gold ring price similarly increased to VND97.7 million per tael. A tael equals 37.5 grams or 1.2 ounces.
Globally, gold edged up on Tuesday as uncertainty over the Trump administration’s tariffs next week continued to drive safe-haven demand amid fears of a U.S economic slowdown and heightened inflation, Reuters reported.
Spot gold was up 0.1% at $3,015.66 an ounce. U.S. gold futures firmed 0.1% to $3,019.70.
“Uncertainty remains over the extent and scope of upcoming U.S. reciprocal tariffs … gold continues to find some support as a hedge against potential surprises,” said IG market strategist Yeap Jun Rong.
On Monday, President Donald Trump said automobile tariffs are coming while indicating that not all of his threatened levies would be imposed on April 2, a move Wall Street took as a sign of flexibility on a matter that has roiled markets for weeks.
Trump’s tariff policies are widely seen as likely to contribute to slowing economic growth, triggering further trade tensions, and driving up inflation.
Bullion, seen as a hedge against geopolitical and economic uncertainties, often thrives in a low-interest-rate environment.
