Gold ring price soars to new high

This marks the third record high it has set this week, having previously reached VND80.8 million per tael on Monday and VND81.3 million on Tuesday. A tael equals 37.5 grams or 1.2 ounces.

Gold bar price was stable at VND83.5 million per tael, its highest in almost four months.

Globally, gold rose 0.2% to $2,662.50 per ounce on Wednesday, Reuters reported.

Gold prices earlier rallied to the $2,664-2,665 region on Tuesday, hitting yet another record high amid rising bets for a more aggressive policy easing by the Federal Reserve and escalating geopolitical tensions in the Middle East, according to FXStreet.