Gold prices have started to move up both in Vietnam and worldwide, and understanding the reasons can help anyone who follows the market or plans to buy gold. Recent changes are linked to several international factors that are worth watching.

Saigon Gold Jewelry Company’s gold bar price rose 0.5% to VND141.7 million per tael, and the price of a gold ring jumped 0.57% to VND141.3 million per tael. A tael equals 37.5 grams.

Globally, gold rose over 1% as softer oil prices eased inflation concerns while investors awaited key US inflation data and fresh signals from the Federal Reserve on its policy outlook. Spot gold climbed 1.4% to $4,123.46 per ounce and US gold futures for December delivery also rose 1.4% to $4,132.70.

Oil prices fell after US President Donald Trump said he was highly unlikely to order further attacks on Iran, easing worries about supply disruptions. "Trump's more conciliatory tone toward Iran is helping keep a lid on oil prices, which in turn eases some of the inflation pressure that had been weighing on the metal along with a modest pullback in the dollar," said Tim Waterer, chief market analyst at KCM Trade.

The recent rise in gold is therefore tied to lower oil prices, reduced inflation pressure and the market’s anticipation of US economic data and Federal Reserve decisions. Watching these global signals can explain why gold becomes more expensive in Vietnam and elsewhere.