(VOVWORLD) - Domestic prices of gold bars and rings again rose to historic peaks on Wednesday as global rates keep going up.
 (Illustrative photo: VOV) |
At 2:22 PM Wednesday global spot gold prices hit 3,039.2 USD per ounce, up 2.6 USD per ounce from noon the same day.
Following this upward trend, Saigon Jewelry Company (SJC) gold bars approached 3,900 USD per tael, while gold rings climbed to a new peak of 3,930 USD.
Meanwhile, Bao Tin Minh Chau traded gold rings at an all-time high of 3,869-3,930 USD (buy–sell).
Geopolitical risks and uncertainties surrounding the US tariffs have driven gold higher, said Shaokai Fan, head of Asia-Pacific (excluding China) and global head of central banks at the World Gold Council. The US trade policies have had a direct impact on global gold, driving investors toward gold as a hedge against volatility and further fueling the precious metal’s price hike, he added.