Gold prices drop

Saigon Jewelry Company gold bar was 0.23% lower at VND85.3 million (US$3,365.89) per tael at the time of publishing. A tael equals 37.5 grams or 1.2 ounces.

Gold ring dropped 0.24% to VND84.4 million per tael.

Globally gold prices slipped as the U.S. dollar strengthened, while investors assessed a flurry of economic data showing stalled inflation progress, suggesting the Federal Reserve might tread cautiously on further interest rate cuts, Reuters reported.

Spot gold fell 0.3% to $2,627.60 per ounce.

U.S. gold futures shed 0.5% to $2,627.00.