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Saigon Jewelry Company gold bar price started the week 0.2% lower at VND147.2 million (US$5,598.03) per tael.
Gold ring price also fell by 0.2% to VND146.2 million per tael. A tael equals 37.5 grams or 1.2 ounces.
Globally, gold prices dipped on Monday as an escalation in the Middle East war pushed Brent crude above $90 a barrel, heightening inflation concerns after many U.S. Federal Reserve policymakers signalled that interest rate hikes may be needed to curb price pressures, Reuters reported.
Spot gold was down 0.1% at $4,014.53 per ounce. U.S. gold futures for August delivery were steady at $4,019.80.
"The weekend escalations increase the risk of a potential full-scale offensive by both sides, which potentially threatens gold prices as the opportunity cost for holding the metal gets higher if this ongoing stagflation fear starts to take hold," said Kelvin Wong, a senior market analyst at OANDA.
"On the longer term, I'm more cautious on gold and looking at the key $3,886 level, which if taken out on the downside, could potentially unleash further weakness towards $3,500."
