A person holds gold bars in Hanoi. Photo by Read/Giang Huy
Vietnam gold prices on Thursday fell to the lowest since Oct. 31.
Saigon Jewelry Company gold bar dropped 0.71% to VND139 million (US$5,412.35) per tael. A tael equals 37.5 grams or 1.2 ounces.
Gold ring fell 0.57% to VND138.7 million per tael. Gold prices in Vietnam have fallen 9% so far this year.
Globally gold prices declined for the third session in a row, falling 0.29% to $3,975.70 per ounce.
Hotter-than-anticipated U.S. inflation figures and hawkish comments from Federal Reserve policymakers boosted the dollar and raised the chances of a bigger interest rate hike next month, Reuters reported.
A stronger dollar makes bullion more expensive for overseas buyers, while the non-yielding metal also becomes less attractive in a high-interest-rate environment.