Gold prices slump in Vietnam

By Dat Nguyen   May 25, 2025 | 09:16 pm PT
Gold prices slump in Vietnam
Gold rings on display in a jewelry shop in Hanoi. Photo by VnExpress/Giang Huy
Vietnam gold prices tumbled Monday morning as bullion edged down globally as the United States and the European Union finalized a deadline for a trade deal.

Saigon Jewelry Company gold bar dipped 0.82% to VND120 million (US$4,631.42) per tael.

Gold ring dropped 0.86% to VND115 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Gold price has surged 42.5% since the beginning of the year.

Globally gold prices eased on Monday after U.S. President Donald Trump set a July 9 deadline for a trade deal with the European Union, rescinding his earlier threat of a 50% tariff from June 1, Reuters reported.

Spot gold was down 0.3% at $3,346.59 an ounce. U.S. gold futures fell 0.6% to $3,345.70.

"There is (a) kind of element of relief in the marketplace after (the) pause on tariffs on the EU and we're seeing gold weaken," said Kyle Rodda, Capital.com's financial market analyst.

 
 
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