Gold prices remain stable as global rates dip

Saigon Jewelry Company gold bar price was at VND119.7 million (US$4,569.66) per tael.

Gold ring price hovered at VND116.2 million. A tael equals 37.5 grams or 1.2 ounces.

Globally, gold prices edged lower on Monday as investors favored the dollar following the U.S. attack on key Iranian nuclear sites over the weekend, with markets closely watching for Iran's response, Reuters reported.

Spot gold was down 0.4% at $3,355.40 an ounce. U.S. gold futures fell 0.5% to $3,370.30.

"The U.S. strikes on Iranian nuclear facilities resulted in the dollar receiving safe haven buying flows in the currency market," KCM Trade Chief Market Analyst Tim Waterer said.

"This USD uptick had pegged gold back and caused an uncharacteristically subdued performance from the precious metal despite risks stemming from the conflict."

Spot gold may retest support at $3,348 per ounce, a break below could open the way toward $3,324, according to Reuters technical analyst Wang Tao.