Gold Prices Take a Hit

The Saigon Jewelry Company's gold bar saw a 0.23% decrease, settling at VND85.3 million (US$3,365.89) per tael. A tael, equivalent to 37.5 grams or 1.2 ounces, also saw a 0.24% drop in gold ring prices to VND84.4 million per tael.

Globally, gold prices dipped as the U.S. dollar strengthened. Investors are carefully assessing a slew of economic data indicating stalled inflation progress, suggesting the Federal Reserve might be cautious about further interest rate cuts, as reported by Reuters.

Spot gold fell 0.3% to $2,627.60 per ounce, while U.S. gold futures shed 0.5% to $2,627.00.