Gold Prices on the Rise

Saigon Jewelry Company reported a 0.25% increase in gold bar prices, reaching VND121.5 million (US$4,646) per tael. Similarly, gold ring prices saw a 0.26% hike, settling at VND117 million per tael. It's noteworthy that a tael is equivalent to 37.5 grams or 1.2 ounces.

Global Market Trends

On the global stage, gold prices experienced an uptick this Monday, buoyed by a weaker dollar. Investors are keenly observing the progress in U.S. trade discussions and anticipating significant market influences, including the upcoming Federal Reserve policy meeting next week, as per Reuters.

Spot gold witnessed a 0.6% increase, priced at $3,368.39 per ounce, while U.S. gold futures climbed 0.5% to $3,376.

Expert Insights

"The dollar's sluggish start to the week has paved the way for gold's early gains, especially with looming tariff deadlines," commented Tim Waterer, Chief Market Analyst at KCM Trade. He added, "Without new trade agreements as we approach the critical August 1 deadline, gold is increasingly likely to target the $3,400 mark and possibly higher."