A person holds gold jewelry at a shop in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
Vietnam gold price fell Tuesday afternoon to the lowest since May 16.
Saigon Jewelry Company gold bar dropped 0.59% to VND118.3 million (US$4,564.13) per tael.
Gold ring fell 0.52% to VND114.4 million per tael.
Gold has risen 40% since the beginning of the year.
Globally gold prices slipped on Tuesday as the dollar regained some lost ground, while persistent concerns over the U.S. fiscal outlook and anticipation of key economic data kept investors cautious about the interest rate trajectory, Reuters reported.
Spot gold was down 0.5% at $3,325.99 an ounce. Markets in the U.S. and London were closed on Monday for a holiday.
“At this point, we are seeing some consolidation in gold prices. The market is taking a breather and waiting for the next catalyst,” said market analyst Kelvin Wong.
