A person holds gold bars at a shop in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
Vietnam gold bar prices surged to a new high Thursday afternoon at VND94.4 million (US$3,701.96 ) per tael, up 0.96% from Wednesday.
Gold ring price increased by 0.96% to VND94.3 million per tael. A tael equals 37.5 grams or 1.2 ounces.
Globally gold prices edged up on Thursday as persisting uncertainty over tariffs drove safe-haven demand, while a cooler-than-expected U.S. inflation print supported the dollar by bolstering rate cuts expectations, Reuters reported.
Spot gold gained 0.1% to $2,934.08 an ounce while U.S. gold futures eased 0.1% to $2,943.70.
“I think $3,000 is the next logical target, likely to be reached sometime over the next several months,” said Marex analyst Edward Meir.
