Gold prices rebound from year-end drop

Saigon Jewelry Company gold bar price surged 2.23% to VND156.2 million (US$5,946.05) per tael. A tael equals 37.5 grams or 1.2 ounces.

The metal fell to VND152.8 million last Wednesday ahead of a four-day break for New Year's Day.

Local bullion prices are around VND16 million per tael higher than global rates.

Gold ring price gained 2.15% to VND152.1 million per tael after last Wednesday's 1.26% drop.

Globally, gold prices climbed Monday, while other precious metals also surged after the U.S. captured Venezuelan President Nicolas Maduro over the weekend, escalating geopolitical tensions and lifting safe-haven demand, Reuters reported.

Spot gold climbed 1.9% to $4,411.14 per ounce, a one-week high. U.S. gold futures for February delivery gained 2.1% to $4,419.90.

"The events in Venezuela have reignited safe-haven demand, with gold and silver among the beneficiaries as investors look to protect against geopolitical risks," said Tim Waterer, KCM Trade's chief market analyst.

Geopolitical tensions, combined with interest rate cuts, robust central bank purchases and inflows into exchange-traded funds contributed to bullion's 64% gains last year, its biggest annual gain since 1979. It hit a record high of $4,549.71 on Dec. 26, 2025.

Non-yielding assets tend to do well in a low-interest-rate environment and during times of geopolitical or economic uncertainty.