A person holds gold bars at a store in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
Saigon Jewelry Company’s gold bar price rose 0.63 percent to VND79.5 million ($3,226.46) per tael on Tuesday morning.
Gold bullion is now almost 1% away from the all-time high of VND80.3 million set on December 26 last year.
The price of the gold ring increased by 0.15% to 64.95 million VND per tael. One tael is equal to 37.5 grams or 1.2 ounces.
Globally, the price of gold regained some momentum after the previous day’s slight decline and held above the $2,030 level during Tuesday’s Asian session, according to the platform financial data, Reuters reported.
A further decline in US Treasury yields has kept the US dollar on the defensive, which in turn is seen as a tailwind for commodities.
The Federal Reserve’s aggressive stance to keep interest rates high for an extended period could prevent any significant increase in the value of gold, which earns no interest.
