✔ Vietnam’s gold price increased slightly Saturday, with SJC gold bars rising 0.41% to VND121 million ($4,662.09) per tael
✔ Gold rings gained 0.43% to VND116 million per tael (1 tael = 37.5 grams)
✔ Gold prices have surged 44% year-to-date in Vietnam
✔ Global gold prices jumped 2.1% Friday, posting their best weekly gain in six weeks
✔ Safe-haven demand boosted gold as Trump’s new tariff threats weakened the dollar
Vietnam Gold Market Update: Prices Edge Higher
Gold prices in Vietnam saw modest gains on Saturday morning, tracking a global rally in bullion prices. According to market data:
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SJC gold bars rose 0.41% to VND121 million ($4,662.09) per tael
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Gold rings increased 0.43% to VND116 million per tael
This follows a 44% surge in gold prices since the beginning of 2024, driven by strong demand and global economic uncertainty.
Why Are Global Gold Prices Rising?
Gold prices soared over 2% on Friday, marking their best weekly performance in six weeks, as investors flocked to safe-haven assets. Key factors driving the rally:
1. Trump’s New Tariff Threats
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U.S. President Donald Trump proposed 50% tariffs on EU goods, sparking fears of a trade war resurgence
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Investors moved into gold as a hedge against market volatility
2. Weaker U.S. Dollar
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A declining dollar made gold cheaper for foreign buyers, boosting demand
3. Stock Market Jitters
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Equity markets dipped amid economic uncertainty, increasing gold’s appeal
Tai Wong, an independent metals trader, noted:
“Trump’s tariff threats and market instability have created a perfect storm for gold demand.”
Gold Price Forecast: Will the Rally Continue?
With geopolitical risks and economic uncertainty persisting, analysts expect:
✔ Further gold price increases if trade tensions escalate
✔ Strong demand in Vietnam as investors seek inflation protection
✔ Potential resistance at all-time highs if the dollar rebounds
What This Means for Investors
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Gold buyers may see higher prices ahead
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Savers & investors could benefit from holding gold as a hedge
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Traders should monitor Fed policy, USD trends, and geopolitical risks
