Gold Bar Prices Climb in Vietnam

The Saigon Jewelry Company has reported a 0.25% increase in gold bar prices, reaching VND119.5 million (US$4,578.98) per tael. Meanwhile, gold ring prices have remained stable at VND115.7 million. It's noteworthy that a tael is equivalent to 37.5 grams or 1.2 ounces.

Global Gold Market Trends

On the global stage, gold prices have reversed their downward trend, edging higher on Monday. This shift comes after hitting a more than one-month low, supported by a weaker dollar. The easing tensions between the U.S. and China have played a significant role in bolstering risk appetite among investors.

Spot gold saw a 0.5% rise to $3,290 per ounce, recovering from its lowest point since May 29. Similarly, U.S. gold futures increased by 0.4%, reaching $3,301.

Expert Analysis

According to KCM Trade Chief Market Analyst Tim Waterer, the reduced concerns over tariff talks and Middle East events have shifted investor focus towards risk assets, leaving gold in a secondary position. However, the pressured dollar is preventing a steeper decline in gold prices. Waterer highlights the $3,250 level as a crucial support point for gold, warning that falling below this could accelerate losses towards the $3,200 mark.