Vietnam’s gold bar prices climbed 0.33% on Monday morning, reaching VND90.6 million (US$3,560.97) per tael, in line with rising global bullion rates. Similarly, gold ring prices increased 0.33% to VND90.4 million per tael. A tael is equivalent to 37.5 grams (1.2 ounces).
On the global market, spot gold advanced 0.6% to $2,899.73 per ounce, while U.S. gold futures gained 0.4% to $2,912.50. This follows gold’s all-time high of $2,942.70 per ounce recorded on February 11.
The U.S. dollar index hovered near a two-month low, as recent weaker-than-expected U.S. economic data fueled speculation about potential Federal Reserve rate cuts. A weaker dollar generally makes gold more affordable for international buyers, boosting demand.
Meanwhile, investors are closely monitoring developments in U.S. President Donald Trump’s tariff plans, which could escalate global trade tensions. Additionally, senior U.S. officials are set to hold peace talks with Russian and Ukrainian negotiators in Saudi Arabia, a move that could impact gold’s safe-haven appeal.
“If U.S.-Russia peace talks improve the odds of ending the war, safe-haven demand for gold could weaken,” said Tim Waterer, chief market analyst at KCM Trade. “However, with tariff concerns and inflation worries still present, gold could maintain its rally even if geopolitical risk fades.”
