Gold prices rise amid global gains

Saigon Jewelry Company gold bar price gained 0.68% to VND119.3 million (US$4,597.04) per tael.

Gold ring price rose 0.44% to VND114.5 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Globally, gold prices climbed on Monday as a softer dollar and renewed trade tensions — following U.S. Treasury Secretary Scott Bessent's reaffirmation of President Donald Trump's tariff threats — fuelled safe-haven demand, Reuters reported.

Spot gold was up 0.7% at $3,223.55 an ounce. U.S. gold futures gained 1.3% to $3,228.70.

Gold shed more than 2% on Friday and posted its worst week since last November, as increased risk appetite from the U.S.-China trade agreement weighed.

The dollar slipped on Monday, making greenback-priced gold cheaper for overseas currency holders.

"The Moody's downgrade of the U.S. credit rating, and the corresponding risk-off reaction by the market, has put some pep back into the gold price," said KCM Trade Chief Market Analyst Tim Waterer.

"I think we could be looking at a July or September rate cut, but how Trump's trade negotiations fare in the interim could be a determining factor for when the Fed next lowers rates," Waterer added.

Gold, traditionally considered a safe-haven asset during political and economic uncertainty, tends to thrive in a low-rate environment.