Vietnam Gold Prices Experience a Slight Decline

Saigon Jewelry Company reported a 0.33% drop in gold bar prices, now at VND120.6 million (US$4,612.91) per tael. Similarly, gold ring prices decreased by 0.34% to VND116.5 million per tael. It's important to note that a tael is equivalent to 37.5 grams or 1.2 ounces.

Global Gold Market Trends

On the global stage, gold prices remained near their lowest in over a week. This trend is attributed to a stronger U.S. dollar and rising Treasury yields, alongside market unease from U.S. President Donald Trump's recent tariff threats. Reuters highlighted that spot gold steadied at $3,301.50 per ounce, while U.S. gold futures saw a 0.2% decline to $3,310.10.

Expert Insights on Gold's Resilience

Ilya Spivak, head of global macro at Tastylive, remarked on gold's impressive resilience this month. Despite the challenges of rising yields and a strengthening dollar, gold's ability to withstand these pressures hints at an underlying strength and a bullish bias in the market.

Understanding the Impact

Higher yields elevate the opportunity cost of holding non-yielding bullion, and a weaker dollar enhances gold's affordability for those holding other currencies.