A person holds gold jewelry at a shop in Ho Chi Minh City. Photo by VnExpress/Thanh Tung
Vietnam gold price gained little Saturday morning as it hovered around a historic peak achieved earlier this week.
Saigon Jewelry Company gold bar price went up 0.41% to VND121 million (US$4,650.01) per tael. A tael equals 37.5 grams or 1.2 ounces.
Gold ring price rose 0.86% to VND116.5 million per tael.
Gold price has shot up 43.7% this year. The State Bank of Vietnam earlier this month explained that the gold surge was driven by global geopolitical and tensions, increasing purchase by central banks, and the U.S. high import tariffs.
Globally gold prices fell 2% on Friday and were on track for a weekly dip as the dollar rose and signs of easing U.S.-China trade tensions after a report that Beijing had exempted some U.S. goods from its tariffs weighed on bullion.
Spot gold was down 1.7% at $3,292.99 an ounce after it fell as much as 2% earlier in the session. Bullion is down 1.2% for the week.
