A person looks at gold jewelry at a shop in Ho Chi Minh City. Photo by VnExpress/Thanh Tung
Vietnam gold bar prices remained steady at a historic peak Tuesday morning.
Saigon Jewelry Company gold bar was unchanged at VND125 million (US$4,750.59).
Gold ring price was stable at VND119.5 million per tael.
Gold held steady on Tuesday as investors awaited the Federal Reserve’s Jackson Hole symposium later this week for cues into possible rate cuts and weighed Washington’s efforts to end the war in Ukraine, Reuters reported.
Spot gold edged 0.2% higher to $3,337.62 per ounce. U.S. gold futures for December delivery rose 0.1% to $3,381.50.
“Gold is still consolidating and is really waiting for a new catalyst to break higher. I think the big event to watch is Jackson Hole and whether the Fed brings the dovish guidance or not,” said Kyle Rodda, Capital.com’s financial market analyst.
Gold typically performs well in a low-interest-rate environment and amid heightened uncertainties.
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