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Commodities

Vietnam Gold Prices Soar to Four-Week High Amid Global Market Surge

Guavy AI Editorial Team
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Gold
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Gold prices in Vietnam have surged to their highest since July 22, reaching VND146.5 million (US$5,600.05) per tael for gold bars and VND147.5 million per tael for gold rings at Saigon Jewelry Company.

This increase of 2.66% and 0.68%, respectively, comes after a global market surge in the precious metal on Wednesday to its highest level in over 2.5 months, where it slipped 0.75% to $4,488.30 per ounce.

Industry expert Robert Gottlieb described the jump as 'totally unexpected', attributing it to lower yields on longer-dated Treasuries and a possible decrease in the dollar's value.

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