Gold statues on display in a store in Hanoi. Photo by VnExpress/Ngoc Thanh
The price of SJC gold fell 0.35 percent to VND70.8 million ($2,877.46) per tael on Monday afternoon.
The price of the gold ring fell 0.17% to VND59 million per tael. One tael is equal to 37.5 grams or 1.2 ounces.
Globally, gold prices retreated on Monday from last session’s five-month high as the U.S. dollar and Treasury yields strengthened ahead of crucial economic data this week, with investors watching for any signs of global fallout in the Middle East conflict. Reuters reported.
Spot gold was down 0.4% at $1,974.20 an ounce by 0718 GMT, and U.S. gold futures slipped 0.4% to $1,986.30.
Gold prices hit their highest level since mid-May on Friday and have surged about 9% over the past two weeks as investors fled to the safety of bullion on fears that war between Israel and Hamas escalates into a broader conflict in the Middle East.
