Vietnam Gold Prices Hit Two-Week High Amid Global Surge

Vietnam's gold prices reached a two-week high on Saturday morning, following a surge in global markets. The Saigon Jewelry Company's gold bar price increased by 1.27% to VND144 million (US$5,495.24) per tael, which is equivalent to 37.5 grams or 1.2 ounces.

The gold ring price remained unchanged at VND145.2 million per tael. Despite the recent increase, Vietnam's gold prices have fallen by 5.8% so far this year.

Globally, gold prices rose on Friday to their highest level in seven weeks. The unexpected drop in U.S. nonfarm payrolls for July dashed rate-hike hopes and set bullion on course for its best week in seven months.