Gold Bar and Ring Prices See Significant Drop

Saigon Jewelry Company reported a sharp decline in gold prices, with gold bars plunging 0.92% to VND118.9 million (US$4,584.54) per tael, and gold rings dropping 1.30% to VND114 million per tael. A tael is equivalent to 37.5 grams or 1.2 ounces.

Global Gold Prices Reach Over One-Month Low

Internationally, gold prices hit their lowest level since April 10, with spot gold falling 0.8% to $3,153.09 an ounce. This decline comes ahead of crucial U.S. economic data that could influence the Federal Reserve's monetary policy.

U.S.-China Trade Truce Impacts Market

The recent agreement between the U.S. and China to reduce tariffs and implement a 90-day pause has eased trade tensions, shifting investor focus towards riskier assets. "We are looking at the $3,150 as the next key level. If that doesn't hold, then $3,100 is likely," said Brian Lan, managing director at GoldSilver Central, Singapore.

Despite the positive market reaction, uncertainty remains about the long-term outcome of the trade negotiations.