Gold jewelry seen at a shop in HCMC. Photo by VnExpress/Thanh Tung
Gold prices rose in Vietnam on Tuesday morning but inched down globally as the dollar firmed.
Saigon Jewelry Company gold bar went up 0.12% to VND171.5 million (US$6,514.34) per tael. A tael equals 37.5 grams or 1.2 ounces.
Gold ring increased by 0.18% to VND171.3 million per tael. Gold prices in Vietnam have risen 12.2% so far this year.
Globally gold prices eased on Tuesday as the dollar firmed, while investors waited to see if the U.S. and Iran are meeting this week for peace talks after renewed tensions over the weekend, Reuters reported.
Spot gold was down 0.2% at $4,807.91 per ounce, extending its fall from Monday when it hit the lowest level since April 13. U.S. gold futures for June delivery were steady at $4,827.30.
The U.S. dollar firmed, making greenback-denominated commodities more expensive for holders of other currencies.
Investors are now awaiting “the next headline regarding whether the talks are going to go ahead in Islamabad and then if they do, whether a ceasefire is extended or even better, a peace deal is done,” said Kyle Rodda, a senior financial market analyst at Capital.com.
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