Vietnam gold price’s rally continues as global rates jump

Gold prices in Vietnam continued to rise Tuesday as global rates surged to a one-week high.

Saigon Jewelry Company gold bar price went up 1.19% to VND85 million (US$3,345.80) per tael.

Gold ring gained 1.08% to VND84 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Globally gold prices climbed to a one-week high on Tuesday, buoyed by a softer U.S. dollar, while the market awaited comments from Federal Reserve officials for cues on the U.S. interest rate outlook, Reuters reported.

Spot gold rose 0.4% to $2,623.54 per ounce, the highest since Nov. 12. Prices rose 2% on Monday.

U.S. gold futures gained 0.5% to $2,627.60.