A person holds gold bars at a shop in Hanoi. Photo by VnExpress/Giang Huy
Vietnam gold price dropped marginally Tuesday morning while global rates showed little change.
Saigon Jewelry Company gold bar fell 0.08% to VND121 million (US$4,616.30) per tael.
Gold ring inched up 0.17% to VND116.9 million per tael.
Vietnam gold has risen 43.7% so far this year.
Globally gold prices were little changed on Tuesday, hovering near a three-week low, as easing fears of a global tariff war and a stronger dollar dampened bullion’s safe-haven appeal, Reuters reported.
Spot gold held its ground at $3,311.33 per ounce. The precious metal hit its lowest level since July 9 in the previous session.
“Gold trading at circa $3,300 or below is still getting the attention of buyers. While short-term market dynamics courtesy of trade deals and a stronger USD aren’t helping gold, looking further ahead there is still upside potential,” KCM Trade Chief Market Analyst Tim Waterer told Reuters.
