Gold prices dip

Gold ring price was stable at VND56.5 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Globally gold prices dipped on Monday as the U.S. dollar edged higher, and investors positioned for a series of major central bank policy meetings this week, with a likely pause in interest rate hikes by the U.S. Federal Reserve, Reuters reported.

Spot gold fell 0.3% to $1,954.78 per ounce. U.S. gold futures fell 0.4% to $1,969.10.

Markets in Australia were closed on Monday due to a public holiday.

"While the Fed is expected to hold their interest rate, they are unlikely to deliver a dovish undertone required to tempt gold bulls back to the table in a meaningful way," said Matt Simpson, senior market analyst at City Index.