Gold prices jump
Vietnam gold bar prices surged Monday morning and narrowed the gap with global bullion rates, which hit a three-month high.
Gold prices surged in recent days, marking a significant increase in the market. The Saigon Jewelry Company's gold bar price opened the week with a 1.63% gain, reaching VND150 million (US$5,738) per tael. This marked a substantial improvement from the VND1.5 million per tael increase over global prices seen earlier in the year.
In addition, the price of gold rings rose by 1.63% to VND149.5 million per tael on Monday. A tael is equivalent to 37.5 grams or 1.2 ounces. Globally, gold prices reached their highest level in over three months. The US Treasury's intervention in the bond market reignited concerns about a weaker dollar, prompting investors to seek alternative assets. Consequently, the precious metal experienced a 0.8% rise, reaching $4,637.64 an ounce.
The Treasury's actions amplified fears that US policy could weaken confidence in the dollar, thereby boosting the appeal of other investments. This move revived the "debasement trade," which had propelled gold prices 65% higher in 2025. Justin Lin, an analyst from Global X ETFs, expressed optimism about the macro money trend, predicting a significant pivot into precious metals due to the currency debasement narrative.
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