Saigon Jewelry Company gold bar price rose 0.19% to VND154.8 million (US$5,868.64) per tael. The same rate was also seen at jewelers Doji and PNJ.

The metal previously hit a record high of VND155.9 million per tael on Monday and are currently VND20 million per tael costlier than bullion on the global market.

Gold ring price was firm at VND152.8 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Globally, gold regained ground on Wednesday as investors clung to expectations of a Federal Reserve rate cut, with a raft of U.S. data this week to set the course for monetary policy, while silver vaulted to a record high, Reuters reported.

Spot gold rose 0.4% to $4,222.19 per ounce after falling nearly 1% in the previous session. U.S. gold futures for December delivery were up 0.8% at $4,253.90 per ounce.

“We’ve seen some profit-taking for gold and moves into crypto or equity, so we should see a return which is quite normal, especially with high chances of a rate cut as we approach the end of the year,” GoldSilver Central MD Brian Lan said.

Recent U.S. data showing a slight economic slowdown has reinforced expectations of a Fed rate cut their meeting next week, with major brokerages upping their wagers on easing. Non-yielding gold tends to perform well in low-interest-rate environments.

Central banks bought 53 tons of gold in October, up 36% month-on-month and the largest monthly net demand since the start of 2025, according to the World Gold Council.