Vietnam gold prices fell Thursday morning following a dip to a seven-month low of the precious metal on global markets.
Saigon Jewelry Company gold bar dropped 0.54% to VND146.2 million (US$5,551.55) per tael. A tael equals 37.5 grams or 1.2 ounces.
Gold ring was steady at VND146 million per tael. Gold prices in Vietnam have fallen 4.3% since the beginning of the year.
Globally spot gold traded at $3,972 per ounce, its first sustained move below the $4,000 level since November 2025, according to trading platform MiTrade.
The breach followed President Donald Trump’s Truth Social post clarifying terms of the U.S.-Iran framework agreement, including no tolls or charges on Strait of Hormuz shipping and controlled release of Iranian funds exclusively for U.S. agricultural purchases.
Gold hit the lowest in over seven months in the previous session. “The market pricing a rate hike as soon as September due to a hawkish Fed, a surging dollar at 13-month highs combined with lower inflation expectations are putting heavy pressure on precious metals,” Tai Wong, an independent metals trader, said Wednesday.
“For gold, there is support just under $3,900 and central bank purchases continue, so a collapse is unlikely, but expect a potentially long period of consolidation as the gold trade is now out of favor,” he added.
