Gold prices rise as global rates drop

Gold ring price increased by 0.44% to VND91.8 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Globally, gold prices retreated on Monday as traders locked in profits after recent record highs, with attention shifting to a key U.S. inflation report set for release later this week, Reuters reported.

Spot gold was down 0.4% at $2,925.63 an ounce. Bullion scaled an all-time high of $2,954.69 on Thursday. U.S. gold futures dipped 0.5% to $2,939.30.

"Gold has been unable to capitalise on the broader risk-averse theme of the market, with profit-taking moves offsetting any rise in safe-haven demand," said Tim Waterer, chief market analyst at KCM Trade.

"With trade uncertainties not looking like they are disappearing anytime soon, gold could still be eyeing off reaching new all-time highs again this week."

U.S. President Donald Trump said last week that he would announce fresh tariffs over the next month or sooner, adding lumber and forest products to previously announced plans to impose duties on imported cars, semiconductors, and pharmaceuticals.

Traders are closely monitoring the U.S. Federal Reserve's interest rate trajectory for clues, as Trump's policies are seen as inflationary.

If inflationary pressures lead the Fed to keep interest rates high, gold's appeal as a non-yielding asset could diminish.