Gold slips from historic high

By Dat Nguyen   April 3, 2025 | 11:22 pm PT
Gold slips from historic high
A person holds gold bars at a shop in Hanoi. Photo by VnExpress/Giang Huy
Vietnam gold price dropped slightly Friday morning after securing a new historic peak Thursday, driven by demand for save-haven assets after the U.S. announced new import tariffs.

Saigon Jewelry Company gold bar price dropped 0.68% to VND101.5 million (US$3,933.36) per tael. A tael equals 37.5 grams or 1.2 ounces.

Gold ring price fell 0.39% to VND101.4 million per tael.

Gold price has risen 20.5% since the beginning of the year.

Globally gold prices fell on Friday as investors reassessed their risk outlook in the wake of U.S. President Donald Trump's tariff measures, which have provided more clarity on market trends but raised concerns over economic slowdown, Reuters reported.

Spot gold was down 0.5% at $3,097.99 an ounce. Still, bullion was on track for a fifth consecutive weekly gain, buoyed by its safe-haven appeal that aided gold to reach three record highs this week.

"Gold tends to rally amid difficult-to-price uncertainty - like the start of a war - but tends to lose that support once markets learn how to price the risks involved," said Ilya Spivak, head of global macro at Tastylive.

"The Trump administration seems to have picked a road, and while sentiment clearly doesn't like it, at least the path of least resistance is more visible and easier to price. That is trimming some of gold's "market confusion" premium."

 
 
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