Gold rings seen in a store in Hanoi. Photo by VnExpress/Giang Huy
Vietnam gold bar price reached a new record high Tuesday morning as the global rate achieved a new historic level.
Saigon Jewelry Company bar went up 1.09% to VND92.3 million (US$3,619.61) per tael. A tael equals 37.5 grams or 1.2 ounces.
Gold ring also reached a new peak at VND91.5 million per tael.
Globally gold hit a record high as investors navigated shifts in U.S. trade policy and waited to hear from Federal Reserve Chair Jerome Powell on tariffs and inflation, Reuters reported.
Gold hit a record peak just above $2.935 an ounce.
Trump on Monday lifted tariffs on steel and aluminium imports to 25%, pushing up share prices of U.S. steelmakers. A tariff of 10% on Chinese imports took effect earlier in the month and retaliatory Chinese duties on U.S. energy and some goods came into effect on Monday.
There has been little sign of progress toward a trade arrangement between Beijing and Washington, but expectations for a breakthrough remain high.
