Vietnam Gold Prices Dip Amid Global Market Decline

Gold prices in Vietnam slipped on Wednesday as global bullion rates declined. The Saigon Jewelry Company's gold bar price dropped by 0.2% to VND150.3 million (US$5,760.38) per tael.

A tael equals 37.5 grams or 1.2 ounces. Similarly, the company's gold ring price slid to VND149.8 million per tael.

Globally, spot gold eased by 0.3% to $4,642.74 per ounce. U.S. gold futures rose 0.1% at $4,700.70.

Financial markets strategists lead Wael Makarem said the most supportive outcome for gold would be softer-than-expected inflation combined with a dovish or balanced message from the Federal Reserve, reducing the opportunity cost of holding a non-yielding asset.