Gold prices dip as global rates fall

Saigon Jewelry Company gold bar price went down 0.16% to VND123.3 million (US$4,671.86) per tael.

Gold ring price fell 0.17% to VND118.8 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Globally, gold prices edged lower on Monday as investors booked profits after a sharp rise in the previous session on weaker-than-expected U.S. jobs data that boosted expectations for a U.S. Federal Reserve interest rate cut in September, Reuters reported.

Spot gold lost 0.1% to $3,360.62 per ounce. Bullion rose more than 2% on Friday. However, U.S. gold futures gained 0.4% to $3,412.80.

The tariffs U.S. President Donald Trump imposed last week on scores of countries are likely to stay in place rather than be cut as part of continuing negotiations.

"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," KCM Trade chief market analyst, Tim Waterer, said.

"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, traditionally considered a safe-haven asset during political and economic uncertainties, tends to thrive in a low-interest-rate environment.