Gold rings are seen at a shop in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
Saigon Jewelry Company gold bar price was unchanged at VND81 million ($3,265.83) per tael Friday morning.
However, gold ring price rose 1.15% to VND70.5 million per tael. A tael equals 37.5 grams or 1.2 ounces.
Globally, gold price flirts with record highs around $2,230 during the Asian session on Friday, FXStreet reported.
The uptick of yellow metal is bolstered by the safe-haven flows amidst growing economic concerns and the prospect of interest rate cuts from the US Federal Reserve.
Gold price has still some room for upside, as the Bull Flag target, measured at $2,251, could keep buyers motivated.
The next move in the Gold price will be determined by the Fed’s preferred inflation measure, the Core PCE Price Index, which will set the tone for markets in the coming weeks.
Gold price ended the first quarter of this year at lifetime highs even though US stock markets marked their strongest Q1 since 1990.
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