A person holds gold jewelry at a shop in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
Vietnam gold price fell Saturday morning after remaining steady for three days in a row.
Saigon Jewelry Company gold bar declined by 0.49% to VND121.1 million (US$4,631.87) per tael. Gold ring was unchanged at VND118 million per tael.
Bullion in Vietnam has risen 43.8% so far this year.
Globally gold prices slipped on Friday, weighed down by a stronger U.S. dollar and signs of progress in U.S.-EU trade negotiations that dented safe-haven demand, Reuters reported.
Spot gold fell 0.9% to $3,336.01 per ounce. U.S. gold futures settled 1.1% lower at $3,335.6.
“The Japan deal was significant, and there’s hope for a U.S.-EU agreement before the August 1 deadline. That’s sapping safe-haven demand as elevated risk appetite drives capital toward risk assets,” said Peter Grant, vice president and senior metals strategist at Zaner Metals.
