Gold jewelry seen in a shop in Hanoi. Photo by VnExpress/Giang Huy
Vietnam gold price fell even as bullion increased in value globally Friday morning.
Saigon Jewelry Company gold bar went down 0.33% to VND120.9 million (US$4,617.23) per tael.
Gold ring was steady at VND117.4 million per tael. A tael equals 37.5 grams or 1.2 ounces.
Gold has surged 43.5% since the beginning of the year.
Globally gold rose on Friday, poised for a weekly gain as investors sought safe-haven assets after the passage of U.S. President Donald Trump’s tax-cut and spending bill in Congress raised fiscal concerns, Reuters reported.
Spot gold went up 0.4% to $3,340.79 per ounce. Bullion is up more than 2% this week.
Non-yielding bullion, a safe-haven asset, typically performs well when interest rates are low.
