Gold Prices Tumble in Vietnam Amid Stronger Dollar and Higher Yields

Gold prices have fallen in Vietnam and globally due to a stronger dollar and higher US Treasury yields. The Saigon Gold Jewelry Company reported that their gold bar price declined by 0.42% to VND143.5 million (US$5,522.31) per tael on Saturday morning, having dropped 0.62% this week.

The metal's value is also down globally as spot gold fell 0.9% to $4,140.06 per ounce after gaining over 1% earlier in the session. The US dollar edged lower, but was headed for a weekly gain, while yields on 10- and 30-year Treasuries hit their highest levels since 2002.

Han Tan, chief market analyst at Bybit, believes that gold's trajectory will depend on how much the Fed is willing to tolerate potential labor market weakness in order to subdue US inflation.