Gold jewelry seen in a shop in Ho Chi Minh City. Photo by VnExpress/Thanh Tung
Vietnam’s gold price experienced a marginal gain Saturday morning as bullion rose globally.
Saigon Jewelry Company gold bar went up 0.41% to VND121 million (US4,662.09) per tael.
Gold ring gained 0.43% to VND116 million per tael. A tael equals 37.5 grams or 1.2 ounces.
Gold price has risen 44% since the beginning of the year.
Globally gold prices rose more than 2% on Friday and logged their best week in six, as investors sought the safe-haven asset amid renewed tariff threats from U.S. President Donald Trump and a weaker dollar, Reuters reported.
Spot gold gained 2.1% to $3,362.70 an ounce. Bullion rose 5.1% this week to touch an over two-week high.
“U.S. President Donald Trump has been on a tear the last 24 hours. Threatening 50% tariffs on the EU as of June 1, biting Apple and hammering Harvard has stocks in a black mood, which is great for gold,” said Tai Wong, an independent metals trader.
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