Gold bar prices rebound after morning drop

Saigon Jewelry Company gold bar price climbed 0.68% to VND117.8 million (US$4,529.73) per tael following an earlier 1.01% drop.

Gold ring price held firm at VND113.7 million per tael after it rose 0.18% in the morning. A tael equals 37.5 grams or 1.2 ounces.

Globally, gold prices rose more than 1% on Monday as an escalation in the Russia-Ukraine conflict and U.S. President Donald Trump's fresh threat to double tariffs on imported steel and aluminum prompted investors to seek refuge in safe-haven bullion, Reuters reported.

Spot gold was up 1.2% at $3,326.45 an ounce. U.S. gold futures rose 1.1% to $3,351.

Markets are awaiting speeches from several U.S. Federal Reserve officials this week for cues on the monetary policy outlook, with Fed Chair Jerome Powell set to speak later in the day.

Fed Governor Christopher Waller said that interest rate cuts remain possible later this year even as the Trump administration's tariff regime is likely to push up price pressures temporarily.

Meanwhile, Trump and Chinese President Xi Jinping are expected to speak soon to iron out trade issues including a dispute over critical minerals, Treasury Secretary Scott Bessent said on Sunday.