Gold Prices in Vietnam Remain Unchanged

The Saigon Jewelry Company reported no change in gold bar prices, maintaining at VND121.1 million (US$4,624.26) per tael. Similarly, gold ring rates stayed steady at VND117 million per tael. 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 stabilized on Monday. The market's upward movement was limited by improved risk sentiment following a trade agreement between the U.S. and the European Union. Investors are now keenly awaiting the U.S. Federal Reserve's policy meeting later this week, as reported by Reuters.

Spot gold remained flat at $3,336.75 per ounce after hitting its lowest point since July 17 earlier in the day. U.S. gold futures also showed no change, holding at $3,336.30 per ounce.

Expert Analysis on Gold Prices

"The current balance in gold prices is influenced by two opposing factors. The U.S.-EU trade deal reduces the demand for safe-haven assets," explained UBS commodity analyst Giovanni Staunovo, as cited by Reuters. "Conversely, the deal alleviates some inflation uncertainty for the Fed, potentially paving the way for a rate cut later this year, which typically supports gold prices."