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LFHCK a.k.a LiFeHaCK

Gold Prices Soar, Nearing Record Highs

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Gold prices in Vietnam experienced an increase during the afternoon session on Wednesday, following slight rises earlier in the day, with values nearing their former highs.

The price of Saigon Jewelry Company’s gold bars increased by 1.7%, reaching VND101.9 million (US$3,917.73) per tael, which is nearly its all-time high of VND102.4 million.
hit last week
A tael is equivalent to 37.5 grams or approximately 1.2 ounces.

The price of gold rings jumped by 1.6%, reaching approximately VND102 million per tael. Earlier, it had reached an all-time high of VND102.8 million.

Worldwide, gold prices strengthened on Wednesday as investors turned to this haven asset following the implementation of “retaliatory” tariffs by U.S. President Donald Trump. Additionally, a declining dollar and increasing expectations of potential reductions in U.S. interest rates provided further backing for the precious metal.
Reuters
reported.

Bullion spot gold increased by 2.1% to reach $3,047.68 per ounce. Meanwhile, U.S. gold futures surged by 2.5%, settling at $3,066.20.

The U.S. dollar index dropped by 0.4%, making gold priced in dollars more affordable for international purchasers.

The implementation of Trump’s tariffs, including a 104% duty on products from China, has escalated worries regarding an impending global trade conflict and economic downturn. In reaction to these duties, China plans to convene a senior-level gathering, with its central bank urging state-owned banks to decrease their acquisition of dollars.

“Concerns over a trade war are negatively impacting the outlook for the U.S. economy. Participants in the market have begun anticipating multiple interest-rate reductions from the U.S. Federal Reserve this year,” noted UBS analyst Giovanni Staunovo, adding that this situation is bolstering the appeal of gold.

We anticipate gold prices rising to reach $3,200 per ounce within the next few months.

Almost 60% of traders expect the Federal Reserve to initiate rate reductions possibly as soon as May. Gold, which often performs well when yields approach zero, benefits from a low-interest-rate setting.

The price of spot gold has kept extending the increases seen last year, rising over $400 since the start of 2025 and reaching an all-time peak of $3,167.57 on April 3rd.

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