Gold prices in Vietnam increased on Saturday morning, even as global rates dipped to their lowest levels in a week.
Saigon Jewelry Company (SJC) raised the price of its gold bars by 0.25%, bringing them to VND119.7 million (approximately US$4,581.20) per tael. Meanwhile, gold rings saw a similar uptick, climbing 0.26% to VND116.5 million per tael.
Since the start of the year, domestic gold prices have jumped by 42%.
On the global market, gold prices held steady on Friday but were on track for a weekly decline. According to Reuters, the dip followed U.S. President Donald Trump’s decision to delay any potential involvement in the Israel-Iran conflict.
Spot gold was nearly unchanged at $3,368.68 an ounce—its lowest point since June 12—marking a 1.8% drop for the week.
“Gold is holding steady as Trump steps back from an ‘imminent’ attack on Iran. For now, it looks like the worst news is behind us,” said Tai Wong, an independent metals trader.
Wong noted that while a further drop toward $3,250 per ounce is possible, buyers have been quick to take advantage of price dips during the current gold rally.
Gold is traditionally seen as a safe haven in times of political and economic uncertainty.
