Gold prices in Vietnam reached unprecedented levels on 10 April, with the Saigon Jewellery Company (SJC) reporting a 1.96% increase in gold bar prices to VND103.9 million ($4,023.24) per tael, according to bne IntelliNews.
Gold rings followed closely behind, climbing 1.57% to VND103.3mn per tael, building on a sharp 3% rally the previous day, the metal’s strongest single-day gain since October 2023.
Analysts attribute the rally to escalating US-China trade tensions and shifting tariff policies. US President Donald Trump’s announcement on 9 April–temporarily lowering tariffs for some nations while threatening higher levies on Chinese imports–triggered market volatility, driving investors toward gold as a traditional safe-haven asset.
Vietnamese investors, who historically view gold as a hedge against economic uncertainty and currency fluctuations, have shown particularly strong interest. Market observers warn prices could climb further if trade disputes intensify, though volatility is expected to persist in the near term.
A tael is equivalent to 37.5 grams, or about 1.2 ounces.
