Gold price rises amid strong global demand

Gold ring price gained 0.22% to VND90.6 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Globally gold extended gains on Tuesday as uncertainty over U.S. President Donald Trump's tariff plans continued to dominate sentiment, driving safe-haven demand amid fears of a potential global trade war, Reuters reported.

Spot gold rose 0.2% to $2,903.56. U.S. gold futures gained 0.6% to $2,916.80.

"We've seemingly got pretty significant central bank buying and that we've also got these potential shortages in Europe on the basis that there seems to be a rush to get gold in the U.S., to avoid possible tariffs," Capital.com's financial market analyst Kyle Rodda said.

"I think the trend remains bullish for gold - the fundamentals are good."

Goldman Sachs raised its gold price forecast to $3,100 per ounce from $2,890 per ounce for end-2025 on structurally higher central bank demand.