Gold prices hit new historic peaks

Saigon Jewelry Company gold bar gained 0.31% to a historic peak of VND96.1 million (US$3,763.83) per tael. A tael equals 37.5 grams or 1.2 ounces.

Gold ring price also jumped to VND96.8 million per tael, up 0.62% from the previous high of VND96.2 million hit last week.

Globally, gold firmed on Monday after touching a historic milestone last week, as geopolitical tensions, jitters about tariffs escalating trade frictions, and increased hopes of interest rate cuts from the U.S. Federal Reserve continued to fuel safe haven demand, Reuters reported.

Spot gold rose 0.1% to $2,986.53 an ounce. Bullion rose above the $3,000/oz milestone to notch a record high at $3,004.86 on Friday. U.S. gold futures eased 0.2% to $2,994.60.

"The recent rally in gold has been driven by stagflationary fears," said Kelvin Wong, senior market analyst, Asia Pacific, at OANDA, adding that short-term momentum remains positive with the next intermediate resistances at $3,016 or $3,030.

U.S. consumer sentiment plunged to a nearly 2-1/2-year low in March and inflation expectations soared amid worries that President Donald Trump's sweeping tariffs, which have ignited a trade war, would boost prices and undercut the economy.

Gold, a hedge against political risks and inflation, has gained around 14% so far in 2025.