Vietnam & World Gold Market News

Pham Hoang An, director of Sacombank Jewelry Company, said both buyers and sellers should be cautious in their trading as big fluctuations in gold prices contain risks.

In Tokyo, spot gold inched up 0.3 percent to $1,066.15 per ounce, approaching the all-time high of $1,068.30 an ounce hit on Tuesday. Gold has rallied 12 percent since the beginning of September.

Most-active December gold futures also edged up to $1,067.7, a rise of 0.3 percent from the COMEX division of the New York Mercantile Exchange and just below a record high of $1,069.7 reached on Tuesday.

 “Gold's still on a strong momentum but I think market players will be cautious about entering into the gold market now,” said Adrian Koh, an analyst at Phillip Futures in Singapore.

 “The key is still the dollar's movement and if it continues to head lower then there's more room for gold to make new highs,” he said.

 The dollar index fell below 75.700 to its lowest since August 2008, while the euro climbed to a fresh 14-month high of

$1.4888 as investors bet on higher-yielding currencies and commodities on growing optimism about the global economy.