Gold jewelry seen at a shop in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
Vietnam gold prices stood steady on Wednesday while global bullion rates edged up after plummeting in the previous session.
Saigon Jewelry Company gold bar price hovered at VND119.5 million (US$4,569.35) per tael.
Gold ring price remained at VND116 million. A tael equals 37.5 grams or 1.2 ounces.
Globally, gold prices edged higher on Wednesday, supported by a pullback in the U.S. dollar and Treasury yields, as markets monitored the fragile truce between Israel and Iran, Reuters reported.
Spot gold was up 0.2% at $3,330.99 per ounce, after hitting on Tuesday its lowest level in more than two weeks.
“The technical selling of the dollar and weaker U.S. Treasury yield have benefited gold prices,” OANDA senior market analyst Kelvin Wong said.
A potential catalyst for a gold breakout could be further weakness in the dollar, renewed focus on the U.S. fiscal deficit, and tariff policy, especially as Iran-Israel tensions ease, Wong added.
