Vietnam Gold Prices Rise Amid Global Increase

Vietnam's gold prices saw a small increase on Thursday morning, continuing their upward trend for over a week. The Saigon Jewelry Company's gold bar price rose by 0.07% to VND150.4 million (approximately $5,763.10) per tael, where one tael is equivalent to 37.5 grams or 1.2 ounces.

In contrast, the price of a gold ring fell by 0.52% to VND152.4 million per tael. Notably, gold prices in Vietnam have declined by 1.57% so far this year.

Globally, gold prices also saw an increase, rising by 0.61% to $4,622.71 following a decline on Wednesday due to U.S. inflation data meeting expectations and increasing bets for a Federal Reserve interest-rate hike next month. Investors are also awaiting remarks from Chairman Kevin Warsh this week.

Peter Grant, vice president and senior metals strategist at Zaner Metals, believes that the uptrend in gold is resuming. He predicts potential prices above $5,000 by the end of the year, with a possibility for new all-time highs by the second quarter of 2027.