Vietnamese gold bar prices remained steady Wednesday morning as global gold prices climbed amid ongoing economic uncertainties.
Saigon Jewelry Company reported gold bar prices at VND 117.2 million (approximately US$4,496.46) per tael, while gold rings were priced at VND 113.5 million per tael. (One tael equals 37.5 grams or 1.2 ounces.)
Internationally, gold gained ground on Wednesday, driven by escalating concerns over U.S.-China trade tensions and broader global economic risks, which continue to boost demand for safe-haven assets, Reuters noted.
Spot gold prices rose 0.3% to $3,361.03 per ounce, with U.S. gold futures up 0.2% at $3,384.20.
Kelvin Wong, senior market analyst for Asia Pacific at OANDA, highlighted that dip-buyers may return amid ongoing uncertainty surrounding trade relations between the U.S. and China, as well as between the U.S. and the European Union.
“Gold remains a preferred safe haven during times of economic uncertainty,” Wong said.
Concerns deepened following a warning from the Organisation for Economic Cooperation and Development (OECD) on Tuesday, signaling a sharper-than-expected global economic slowdown exacerbated by the Trump administration’s trade policies.
Wong added, “The OECD report is likely to support safe-haven demand from a medium-term perspective.”
