A person holds gold jewelry at a shop in Ho Chi Minh City. Photo by Read/Quynh Tran
Saigon Jewelry Company gold ring price surged by 0.75% Monday morning to a new all-time high of VND80.8 million (US$3,285.68) per tael.
Its previous record was VND79.7 million per tael, established last Friday. A tael equals 37.5 grams or 1.2 ounces.
Gold bar price was unchanged at VND82 million per tael.
Globally, the U.S. rate cut combined with lower bond yields helped keep gold up at $2,620 an ounce on Monday, just off an all-time peak of $2,625,59, Reuters reported.
Net long positions in Comex gold futures hit their highest level in four years last week, suggesting some risk of a pullback in the near term.
