Gold jumps to new record

By Dat Nguyen   April 8, 2024 | 08:49 pm PT
Gold jumps to new record
A person arranges gold jewelry at a shop in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
Saigon Jewelry Company gold bar price rose 0.73% to VND83.1 million ($3,330.46) per tael, a new historic peak.

Gold bar has risen 12% since the beginning of the year.

Gold ring price went up 0.40% to VND74.6 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Globally gold prices rose on Tuesday, hovering near a record peak hit in the previous session, supported by firm central bank buying, while investors watched out for the U.S. Federal Reserve's policy meeting minutes and inflation data for fresh signals.

Spot gold was up 0.2% at $2,343.76 per ounce, after hitting a record high of $2,353.79 on Monday. U.S. gold futures gained 0.5% to $2,362.60.

"Gold has been the 'asset of choice' in financial markets, with an undercurrent of central bank buying and speculative flows sending the price to higher highs on a regular basis," said Tim Waterer, chief market analyst at KCM Trade.

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