A person holds gold jewelry at a shop in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
Vietnam gold prices fell Thursday morning amid steady movements of the precious metal on global markets.
Saigon Jewelry Company gold bar dropped 0.21% to VND143.8 million (US$5,538.22) per tael. A tael equals 37.5 grams or 1.2 ounces.
Gold ring declined 0.21% to VND143.9 million per tael. Gold prices in Vietnam have fallen 5.9% since the beginning of the year.
Globally gold was little changed, increasing 0.38% to $4,172.70 per ounce, as higher energy prices eclipsed support from softer-than-expected U.S. inflation data that reduced expectations for an immediate Federal Reserve rate hike, Reuters reported.
Oil prices are on track for a big monthly gain as U.S.-Iran talks aimed at ending their war stalled. Stagnant progress in the conflict drew concerns of persistently higher energy prices, which could contribute to prolonged inflation and tighter monetary policy.