Gold Prices See a Decline

Saigon Jewelry Company reported a slight decrease in gold bar prices by 0.16% to VND123.3 million (US$4,671.86) per tael. Similarly, gold ring prices fell by 0.17% to VND118.8 million per tael. It's important to note that a tael equals 37.5 grams or 1.2 ounces.

Global Market Trends

On the global stage, gold prices edged lower as investors took profits following a significant rise in the previous session. This shift was influenced by weaker-than-expected U.S. jobs data, which has increased expectations for a U.S. Federal Reserve interest rate cut in September.

Spot gold saw a minor loss of 0.1% to $3,360.62 per ounce, despite a more than 2% increase on Friday. Conversely, U.S. gold futures experienced a slight gain of 0.4% to $3,412.80.

Impact of U.S. Tariffs

The recent tariffs imposed by U.S. President Donald Trump on numerous countries are expected to remain in place as negotiations continue. Tim Waterer, KCM Trade chief market analyst, commented on the situation, stating, "Gold has made a conservative start to the week following Friday's price jump. A combination of profit-taking and dollar stabilization has caused gold to ease marginally to kick-off the week."

He further added, "But with Trump on the tariff warpath once again, and the soft U.S. jobs report increasing the odds that we could see a September FOMC rate cut, any pullbacks in the precious metal could be of a shallow nature."

Gold as a Safe-Haven Asset

Traditionally viewed as a safe-haven asset during times of political and economic uncertainty, gold tends to perform well in a low-interest-rate environment.