On Saturday morning, Vietnam saw a slight increase in its gold prices as precious metals gained value worldwide.
The Saigon Jewelry Company's gold bar increased by 0.41%, now priced at VND121 million (USD4,662.09) per tael.
The gold ring increased by 0.43%, reaching VND116 million per tael. It's worth noting that one tael is equivalent to 37.5 grams or approximately 1.2 ounces.
The price of gold has increased by 44% since the start of the year.
Worldwide, gold prices surged over 2% on Friday, marking their strongest weekly gain in half a year. This uptick occurred as investors turned to this safe-haven asset due to increased tariffs announced by U.S. President Donald Trump and a declining dollar. Reuters reported.
Benchmark gold advanced by 2.1% to reach $3,362.70 per ounce. Precious metals climbed 5.1% this week, hitting their highest point in more than two weeks.
"In the past 24 hours, U.S. President Donald Trump has been very active. He threatened 50 percent tariffs on the European Union starting from June 1st, criticized Apple, and attacked Harvard—leading to a pessimistic outlook among stock investors, which benefits gold prices," according to Tai Wong, an independent metal trader.
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