Gold prices rally

Saigon Jewelry Company gold bar price went up 2.09% to VND180.2 million (US$6,937.45) per tael of 37.5 grams or 1.2 ounces. Other sellers similarly raised their rates.

The gap between local and global bullion prices widened from VND15-18 million to over VND20 million per tael.

Gold ring price gained 2.98% to VND179.7 million per tael.

Globally, gold prices climbed more than 2% on Wednesday, building on their best day since 2008 in the previous session, as bargain-hunting and a softer dollar supported bullion, Reuters reported.

Spot gold was up 2.2% at $5,044.74 per ounce after gaining 5.9% on Tuesday, its biggest daily gain since November 2008. Bullion scaled a record high of $5,594.82 last Thursday. U.S. gold futures for April delivery climbed 2.7% to $5,067.0 per ounce.

Investors expect at least two Fed interest rate cuts in 2026 and await ADP private payroll data later in the day for more cues into the Fed's policy path. Non-yielding bullion tends to perform better in low-interest-rate environments.

The current wave is expected to be sharp, probably to surge into the $4,950 to $5,198 range, technical analyst Wang Tao said.