Gold Prices Experience a Slight Decline

Saigon Jewelry Company reported a 0.41% decrease in gold bar prices, now at VND120 million (US$4,622.94) per tael. Similarly, gold ring prices saw a 0.43% drop to VND115 million per tael. It's important to note that a tael is equivalent to 37.5 grams or 1.2 ounces.

Global Market Trends

On the global stage, gold prices fell by 0.4% to $3,234.32 an ounce, with U.S. gold futures also easing by 0.3% to $3,237.00. This decline is attributed to the de-escalation in U.S.-China trade tensions, which has weakened the demand for gold as a safe-haven asset.

Expert Insights

Kyle Rodda, a financial market analyst at Capital.com, commented, "Positive developments in US trade policy are diminishing the appeal of gold in the short-term." He further added, "If we see continued progress in trade negotiations, gold can pull back further. $3,200 is a pretty critical level of support."

Federal Reserve's Role

The market is also closely monitoring another set of inflation data to gauge the Federal Reserve's policy path. President Trump's recent call for the Fed to lower rates highlights the ongoing debate over monetary policy and its impact on prices for goods and services.

Gold, traditionally seen as a hedge against inflation, tends to perform well in a low-interest rate environment, making its current trends a focal point for investors worldwide.