Global Gold Dips to $4,373 as Vietnamese Domestic Bars Hold Steady

Global gold prices fell 3.5 dollars to 4,373.1 dollars per ounce on Monday morning. This decline reflects continued pressure from the US Federal Reserve's recent rate hike. Vietnamese domestic gold bars, however, maintained their previous closing levels without change.

Major Vietnamese dealers including SJC and DOJI listed selling prices at 147.6 million dong per tael. The buying and selling spread remained at 3 million dong for most major brands. Only DOJI adjusted its gold ring prices slightly downward by 400,000 dong per tael in both directions.

Fed policy pressures global metal prices

The Federal Reserve raised interest rates by 0.25 percentage points last week. The new operating band sits between 3.75 and 4 percent. Officials emphasized that inflation risks remain high across various commodity and service sectors.

Higher interest rates increase the opportunity cost of holding non-yielding assets like gold. Market participants are adjusting their expectations for the timing of monetary easing. This environment limits the upside potential for precious metals in the short term.

Technical levels define near-term direction

The 4,400 dollar zone acts as a significant technical resistance level. Gold has approached this area multiple times last week without breaking through. Holding above 4,300 dollars remains critical for maintaining an accumulation phase.

A successful break above 4,420 dollars could open the path to 4,500 dollars. Conversely, a drop below 4,300 dollars would expose the 4,270 dollar support zone. Traders are monitoring these levels closely for the next move.

Domestic market remains stable

Laodong.vn reports that domestic prices stayed flat despite global fluctuations. SJC and Phu Quy kept their buy and sell prices consistent with last week's close. This stability suggests local dealers are absorbing global volatility without immediate price adjustments.