A person arranges gold jewelry at a shop in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
Vietnam gold bar price fell 0.24% to VND84.5 million (US$3,318.61) per tael Monday morning while global rates increased slightly.
Gold ring price slipped by the same rate to VND84.3 million per tael. A tael equals 37.5 grams or 1.2 ounces.
Globally, gold prices ticked up on Monday, while investors looked forward to the U.S. Federal Reserve’s interest rate outlook and President-elect Donald Trump’s tariff policies, which could shape the metal’s 2025 trajectory, Reuters reported.
Spot gold was up 0.2% at $2,626.30 per ounce. U.S. gold futures gained 0.3% to $2,638.70.
The dollar index has been rather flat, helping gold maintain its sideways movement, said Kelvin Wong, OANDA’s senior market analyst for Asia Pacific.
“Geopolitical tensions have been a major factor in gold’s uptrend this year and are still likely to be a part of the narrative in 2025, especially with Trump entering the picture,” he said.
The bullion has gained over 27% so far this year and scaled an all-time peak of $2,790.15 on Oct. 31, fuelled by significant Fed rate easing, including a jumbo cut in September, along with heightened geopolitical uncertainties.
