Gold ring price bounces back to record level

It briefly hit this record level on the afternoon of Oct. 23 before dropping to VND88.5 million per tael, where it had remained over the past week. A tael equals 37.5 grams or 1.2 ounces.

Gold bar price has been stable at VND89 million per tael since Oct. 22.

Globally, gold rose to an all-time high on Wednesday as jitters over the close U.S. presidential race supported the yellow metal as markets weigh the prospect of a victory by Republican candidate Donald Trump.

Uncertainties surrounding the U.S. presidential election and the Middle East conflict, along with expectations of an interest rate cut by the Federal Reserve, boosted bullion's appeal.

Spot gold was last 0.18% higher at $2,779.81 an ounce, after having peaked at $2,781.69 earlier in the session.