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Saigon Gold Jewelry Company gold bar price started the week 0.72% higher at VND140 million (US$5,428.25) per tael, after closing last week at its lowest since June 11.
The rate is roughly VND17.5 million per tael higher than global prices.
Gold ring price jumped 0.74% to VND136.8 million per tael. A tael equals 37.5 grams or 1.2 ounces.
Globally, gold prices bounced on Monday, after a selloff in the previous session, as weaker oil prices tempered inflation concerns, while investors assessed comments from the Federal Reserve for clues on the path of US interest rates, Reuters reported.
Spot gold rose 0.7% to $3,900.90 per ounce after hitting a one-year low in the previous session. US gold futures for December delivery gained 0.3% to $3,909.70.
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Gold bars at a store in Ho Chi Minh City. Photo by VnExpress/Thanh Tung |
Bullion slumped 3.5% to its lowest since October 2025 last Friday, falling below its key $4,000 per ounce level amid a selloff in technology stocks that led to the forced sale of safe-haven assets such as gold, and margin calls.
"Gold faces a difficult near-term environment in which technical selling and liquidity concerns are overshadowing its longer-term investment appeal," said Ole Hansen, head of commodity strategy at Saxo Bank, in a note.
