Gold prices soar to new peak

Feb 25, 20221 min read

Vietnamese gold prices hit a new all-time high of VND64.8 million (US$2,838.4) per tael Thursday as global rates skyrocketed amid tensions over the Ukraine situation.

Saigon Jewelry Company sold gold at VND64.8 million per tael of 37.5 grams or 1.2 ounces, up 1.4 percent from Wednesday afternoon.

DOJI sold at VND64.7 million, also up 1.4 percent. The previous high in Vietnam was VND62.4 million in August 2020.

In the global market, the metal rose by 1.7 percent to a nine-month high of $1,930.65 per ounce as geopolitical tensions supported demand for safe-haven bullion.

Vietnamese prices are VND11.35 million, or 21.5 percent, higher than global rates.

Gold continued to be the top asset class for 72 percent of Vietnamese investors, the WGC said citing a study of 2,000 investors last year.

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Mei Ling Tan

Contributor · RetailNews.asia

Mei Ling Tan is the Editor of Retail News Asia, where she leads the editorial team in delivering in-depth coverage of Asia’s dynamic retail landscape. With over a decade of experience in business journalism, Mei Ling is known for her sharp analysis, deep industry insights, and commitment to uncovering the stories behind Asia’s most innovative retail brands. Before joining Retail News Asia, Mei Ling held senior reporting roles at regional business publications, covering everything from consumer trends to digital transformation in retail. A graduate of the National University of Singapore with a degree in Communications and New Media, she combines journalistic integrity with a strong understanding of evolving market forces. Outside the newsroom, Mei Ling is a frequent speaker at industry panels and a mentor for young journalists.

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