Gold Prices Experience a Slight Decline

Saigon Jewelry Company reported a 0.33% decrease in gold bar prices, now at VND120.5 million (US$4,608.38) per tael. Similarly, gold ring prices saw a 0.34% drop to VND116.4 million. It's important to note that a tael is equivalent to 37.5 grams or 1.2 ounces.

Global Market Reactions

On the global stage, gold prices fell as U.S. President Donald Trump announced progress on trade agreements and extended tariff reprieves, reducing the appeal of gold as a safe-haven asset. According to Reuters, spot gold decreased by 0.8% to $3,306.85 per ounce, with U.S. gold futures also down by 0.8% at $3,315.70.

Expert Insights

Kelvin Wong, a senior market analyst at OANDA, commented, "This short-term reprieve by the U.S. is causing this intraday weakness in the gold price right now." He anticipates potential price movements, stating, "What I foresee will be another round of so-called trophy price movement at around the $3,320 level, then we have the top side coming in at $3,360, short-term resistance."