Gold price shoots up to new high

Gold bar price went up 1.14% to VND97.2 million per tael, also a new record. A tael equals 37.5 grams or 1.2 ounces.

Globally gold prices scaled a record peak above the crucial $3,000-mark on Tuesday for the second time within a week, as investors sought cover from economic concerns fuelled by U.S. President Donald Trump's tariff policies, Reuters reported.

Spot gold was up 0.2% at $3,008.08 an ounce after hitting a record high of $3,012.05 per ounce earlier in the session.

Historically considered a hedge against geopolitical instability, gold has risen more than 14% so far this year. Since Trump took office in January, gold has hit a record high 14 times as trade tensions have boosted safe-haven demand.

"Gold is moving higher on account of a weaker dollar and continued tariff uncertainties ... With gold at record highs there is a lot of technical and chart based buying that kicks in since there is no resistance apparent on the charts," said Marex analyst Edward Meir.

An Israeli air strike killed three Palestinians in Gaza on Monday, medics said, with no sign of progress in renewed talks on sustaining a ceasefire deal between Israel and Hamas.

"These Israeli air strikes may also see tensions flare in the Middle East again and that could add to the litany of drivers pushing gold higher," Capital.com's financial market analyst Kyle Rodda said.