Saigon Jewelry Company gold bar fell 0.33% to VND120.5 million (US$4,608.38) per tael.

Gold ring price went down 0.34% to VND116.4 million. A tael equals 37.5 grams or 1.2 ounces.

Globally, gold prices dropped on Monday after U.S. President Donald Trump signaled progress on multiple trade agreements and announced extended tariff reprieves for several countries, dampening demand for the safe-haven metal, Reuters reported.

Spot gold fell 0.8% to $3,306.85 per ounce. U.S. gold futures were down 0.8% at $3,315.70.

“This short-term reprieve (by the U.S.) is causing this intraday weakness in the gold price right now,” OANDA senior market analyst Kelvin Wong said.

“What I foresee will be another round of so-called trophy price movement at around the $3,320 level, then we have the top side coming in at $3,360, short-term resistance.”