A person holds gold bars in Hanoi. Photo by VnExpress/Giang Huy
Vietnam gold prices dropped Tuesday morning as global rates edged down amid uncertainties in the Middle East conflict.
Saigon Jewelry Company gold bar fell 0.35% to VND172.5 million (US$6,548.74) per tael. A tael equals 37.5 grams or 1.2 ounces.
Gold ring declined 0.34% to VND172 million per tael. Vietnam gold prices have risen 12.9% so far this year.
Globally gold prices steadied on Tuesday, as investors remained cautious ahead of a deadline set by U.S. President Donald Trump for reopening the Strait of Hormuz, a key flashpoint in the Iran war, Reuters reported.
Spot gold slipped 0.1% to $4,640.93 per ounce, while U.S. gold futures for June delivery fell 0.4% to $4,666.70.
“Everyone is in a mode where we’re waiting for whatever the outcome is of this diatribe that the President has been on for the past several days,” said Ilya Spivak, head of global macro at Tastylive, a financial derivatives trading platform.
