Vietnam’s gold ring price surged to a new all-time high of VND 93 million (US$3,642.06) per tael on Wednesday, marking a 1.64% increase. Gold bars also saw a rise of 1.2%, reaching VND 92.7 million per tael. A tael, which is equivalent to 37.5 grams or 1.2 ounces, has seen a notable 10% increase in value since the beginning of 2025.
Globally, however, gold prices experienced a slight dip due to a stronger U.S. dollar and rising Treasury yields. According to Reuters, spot gold fell 0.3% to $2,909.86 per ounce, following a near 1% increase on Tuesday. U.S. gold futures remained stable at $2,920.70.
The U.S. Treasury yield for 10-year bonds rebounded from a four-month low, making gold less appealing as a non-yielding asset, while the dollar index strengthened. Analysts suggest that the modest decline in gold prices reflects markets digesting the previous day’s sharp rally, rather than the emergence of any significant new factors impacting the yellow metal.
Gold’s rise this year can be attributed in part to U.S. policies, especially those of former President Donald Trump, which are expected to create economic uncertainty and boost demand for safe-haven assets. Gold has gained over 10% since the start of 2025, with investors turning to it as a secure store of value amidst ongoing economic volatility.
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