Gold price rises to historic high

Its previous peak was VND106.5 million per tael reached last weekend. A tael equals 37.5 grams or 1.2 ounces.

Gold ring price gained 0.57% to VND105.6 million per tael, 0.75% shy of the record VND106.4 million it hit last Friday.

Globally, gold prices retreated on Monday from a record high hit earlier in the session as trade tensions eased after U.S. President Donald Trump exempted smartphones and computers from "reciprocal" U.S. tariffs, Reuters reported.

Spot gold was down 0.1% at $3,232.45 an ounce. Bullion hit a record high of $3,245.42 earlier in the day. U.S. gold futures edged 0.1% higher to $3,248.20.

"Ongoing trade and tariff dramas have created higher volatility and uncertainty levels in financial markets, and in such an environment the gold price could be eyeing off a run towards $3,300 in the near term should dollar weakness persist," said KCM Trade chief market analyst Tim Waterer.

Non-yielding gold is traditionally viewed as a hedge against economic uncertainty and inflation.