Gold prices edged higher in Vietnam on Wednesday morning, mirroring gains in global markets as investor uncertainty deepens over the U.S.-China trade negotiations and upcoming U.S. inflation data.
The Saigon Jewelry Company reported a 0.25% increase in its gold bar prices, now at VND118.8 million per tael (approximately US$4,564.84). Gold rings also saw a 0.44% rise, reaching VND114.5 million per tael. A tael is equivalent to 37.5 grams, or about 1.2 ounces.
Globally, spot gold climbed 0.2% to $3,328.89 an ounce, while U.S. gold futures rose by the same margin to $3,349.80. Analysts attribute the uptick to growing investor caution amid geopolitical developments and economic indicators.
The cautious sentiment follows the announcement of a draft framework agreement between the U.S. and China. The proposed deal aims to revive trade talks and address China’s export restrictions on rare earth minerals and magnets. U.S. Commerce Secretary Howard Lutnick revealed the update after two days of negotiations in London.
Despite this progress, uncertainty lingers. City Index senior analyst Matt Simpson noted that while a framework is in place, it still requires final approval from Presidents Trump and Xi. Until then, investors remain wary, pushing gold demand higher as a hedge against potential market instability.
As gold continues its upward momentum, questions remain about how long it can outpace global economic volatility.
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