Gold prices edge lower as global rates slide

Saigon Jewelry Company gold bar price slid 0.41% to VND120 million (US$4,622.94) per tael.

Gold ring price fell 0.43% to VND115 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Globally, gold prices fell on Wednesday as de-escalation in U.S.-China trade tensions weakened safe-haven demand, while markets eyed another set of inflation data to assess the Federal Reserve's policy path, Reuters reported.

Spot gold fell 0.4% to $3,234.32 an ounce. U.S. gold futures eased 0.3% to $3,237.00.

"Positive developments in US trade policy (are) diminishing the appeal of gold in the short-term," Capital.com's financial market analyst Kyle Rodda said.

"I think that if we see continued progress in trade negotiations and deals being done between the US and its trading partners, gold can pull back further. $3,200 is a pretty critical level of support."

On Tuesday, Trump reiterated his call for the Fed to lower rates, saying prices for gas, groceries and "practically everything else" are down.

Gold, traditionally viewed as a hedge against inflation, also tends to thrive in a low-interest rate environment.