A person holds gold bars at a shop in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
Vietnam gold price Tuesday afternoon rose to the highest since May 28.
Gold bar gained 0.68% to VND118.5 million (US$4,554.62) per tael. A tael equals 37.5 grams or 1.2 ounces.
Gold ring went up 0.70% to VND114.8 million per tael.
Bullion has shot up 39% this year in Vietnam.
Globally gold prices edged higher on Tuesday while investors awaited more clarity on U.S.-China trade talks and looked forward to key U.S. inflation data due this week which could provide insight into the Federal Reserve’s future interest rate decisions, Reuters reported.
Spot gold was up 0.2% at $3,333.89 an ounce, after prices fell to a low of $3,301.54 earlier in the session.
“Gold found some floor amid dip-buying though the uptick lacked bullish conviction. Fiscal concerns and Fed rate cut bets are the catalyst for a recovery in the prices,” said Jigar Trivedi, senior commodity analyst at Reliance Securities.
