Vietnam's gold bar price hit a record high on Tuesday, coinciding with a new all-time high in the global market rate.
The Saigon Jewelry Company bar rose 1.09% to VND92.3 million (US$3,619.61) per tael. One tael is equivalent to 37.5 grams or 1.2 ounces.
The gold price also reached a new high of VND91.5 million per tael.
reported.
Gold reached a historic high, exceeding $2.935 an ounce.
On Monday, President Trump increased tariffs on steel and aluminum imports to 25%, resulting in higher stock prices for US steel companies. Earlier in the month, a 10% tariff on Chinese imports went into effect, and on Monday, retaliatory Chinese duties on US energy and certain goods also took effect.
There has been limited evidence of progress towards a trade agreement between Beijing and Washington, but hopes for a significant development remain strong.