A person holds gold bars in Hanoi. Photo by Read/Giang Huy
Vietnam gold prices rose Thursday morning after hitting the lowest since Jan. 13 in the previous session.
Saigon Jewelry Company gold bar gained 0.93% to VND163.5 million (US$6,200.93) per tael. A tael equals 37.5 grams or 1.2 ounces.
Gold ring jumped 1.24% to VND163 million per tael. Gold prices in Vietnam have risen 7% so far this year.
Globally gold held steady on Thursday, as rising hopes of a U.S.-Iran peace deal countered fears of inflation and higher-for-longer interest rates, Reuters reported.
Spot gold was down 0.2% at $4,534.69 per ounce. Bullion gained more than 1% on Wednesday after falling to its lowest level since March 30 earlier in the day.
Gold has fallen more than 14% since the Iran war began in late February, as elevated oil prices fuelled inflation risks and fears of interest rates staying higher for longer. Non-yielding gold tends to benefit when interest rates are lower.
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