A person looks at gold jewelry at a shop in Ho Chi Minh City. Photo by VnExpress/Thanh Tung
Vietnam gold bar price rose 0.22% to VND92.9 million (US$3,640.28) per tael Friday afternoon as global bullion rates inched up.
Gold ring price rose by the same rate to VND92.8 million per tael. A tael equals 37.5 grams or 1.2 ounces.
Globally, gold edged higher on Friday, and was poised for a weekly rise, as the dollar weakened and uncertainty around U.S. President Donald Trump’s tariff plans firmed demand, while investors awaited U.S. non-farm payrolls data due later in the day, Reuters reported.
Spot gold gained 0.2% to $2,916.88 an ounce. Bullion has added more than 2% this week. U.S. gold futures lost 0.3% to $2,918.80.
“Markets are waiting for fresh triggers regarding what is likely to happen going forward with respect to the trade war… The outlook (for gold) continues to remain very optimistic,” said Kunal Shah, head of research, Nirmal Bang Commodities, Mumbai.
The ongoing trade tensions, inflation uncertainty and a weaker dollar signaling a slowing economy are all bullish for gold, Shah said.
Trump’s policies, widely seen as likely to stoke economic uncertainties, have helped safe-haven gold rise over 10% year-to-date.
