Gold jewelry seen at a shop in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
Vietnam gold prices posted gains on Monday afternoon as global bullion rates rose.
Saigon Jewelry Company gold bar price went up by 0.25% to VND121.5 million (US$4,646) per tael.
Gold ring price was up 0.26% to VND117 million per tael. A tael equals 37.5 grams or 1.2 ounces.
Globally, gold prices climbed on Monday, supported by a weaker dollar as investors monitored developments in U.S. trade talks and awaited potential market-moving catalysts, including the Federal Reserve’s policy meeting scheduled for next week, Reuters reported.
Spot gold was up 0.6% at $3,368.39 per ounce. U.S. gold futures rose 0.5% to $3,376.
“Dollar has made a subdued start to the week, which has left the door open for gold to post gains early doors with tariff deadlines looming large,” KCM Trade Chief Market Analyst Tim Waterer said.
“The closer we move towards the key August 1 deadline without any new trade deals emerging, the more likely gold is to start fancying another run to towards the $3,400 level and perhaps beyond.”
