Gold prices fall in Vietnam, remain steady globally

Gold ring price decreased by 0.23% to VND88.7 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Globally, gold held steady on Monday as investors prepared for a key week for the global economy ahead of the U.S. presidential election and the likelihood of another rate cut by the Federal Reserve, Reuters reported.

Spot gold edged up by 0.1% to $2,738.32 per ounce. Bullion hit a record high of $2,790.15 on Thursday.

U.S. gold futures were flat at $2,747.80.

Uncertainty this week could benefit gold, as delays in the election outcome or a split control of the House and Senate might drive safe-haven flows, pushing gold prices higher, said Tim Waterer, chief market analyst at KCM Trade.

"The U.S. dollar has lost some traction to start the week, which has left the door open for gold to grind higher," Waterer said.