Vietnam Gold Prices Tick Up Amid Global Market Volatility

Vietnam's gold prices saw a slight increase on Thursday morning, despite a drop in global markets. The Saigon Jewelry Company reported that its gold bar price rose by 0.21% to VND144.6 million (US$5,554.92) per tael, which is equivalent to 37.5 grams or 1.2 ounces.

The price of gold rings also increased by 0.34% to VND146 million per tael. However, it's worth noting that gold prices in Vietnam have fallen by 5.4% this year. Globally, spot gold prices slipped 0.22% to $4,398.10 per ounce.

The Strait of Hormuz remains a key geopolitical channel affecting oil prices and inflation expectations. The U.S.-Iran talks have yet to produce a deal to reopen the strait, with Iran's top security official linking its reopening to U.S. conditions, including frozen assets and regional conflicts.