A person holds gold jewelry at a shop in Ho Chi Minh City. Photo by VnExpress/Thanh Tung
Vietnam gold price dropped marginally Saturday morning as global rates plunged.
Saigon Jewelry Company gold bar fell 0.17% to VND118.5 million (US$4,571.49) per tael. A tael equals 37.5 grams or 1.2 ounces.
Gold ring was steady at VND114.7 million per tael.
Gold has risen 41% in Vietnam since the beginning of the year.
Globally gold prices were set for their biggest weekly loss since November, Reuters reported.
Spot gold fell 1.38% to $3,195.16 an ounce, and U.S. gold futures finished down 1.2%.
U.S. consumer sentiment slumped further in May as one-year inflation expectations surged as households remained concerned about the economic impact of President Donald Trump’s aggressive and often erratic trade policy, a University of Michigan survey showed.
