Gold breaks yet another record

By Dat Nguyen   March 31, 2025 | 08:55 pm PT Google Get VnExpress first in Google Search info See more of the news you trust. Make VnExpress a preferred source to prioritise our updates in your Google search results
Gold breaks yet another record
A arranges holds gold jewelry at a shop in Hanoi. Photo by VnExpress/Giang Huy
Vietnam gold price maintained its stellar performance and reached another historic peak Tuesday morning.

Saigon Jewelry Company gold bar gained 0.29% to VND102.1 million (US$3,985.17) per tael.

Gold ring also went up by the same rate to VND102.1 million per tael. A tael equals 37.5 grams or 1.2 ounces.

In Vietnam gold has risen more than 21% since the beginning of the year.

Globally gold prices extended their gaining streak, hitting another record high of $3,128.06.

Spot gold rose 1.31% to $3,124.34 an ounce, while U.S. gold futures rose 1.2% to settle at $3,150.30.

Analysts at Goldman Sachs now see a 35% chance of a U.S. recession, up from 20% previously, saying they expect Trump to announce tariffs that average 15% across all U.S. trading partners on April 2.

"The current market narratives center on this fear of stagflation, which conceptually could be the worst possible combination for stocks," said Talley Leger, chief market strategist at The Wealth Consulting Group in New Jersey.

"So in a slowing growth environment, earnings would decelerate, or even collapse in a recession. That's another big fear in the market. And on the other side, spiralling inflation would squeeze stocks on the valuation channel."

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