Gold prices hit 4-week low

Gold ring price dropped 0.42% to VND59.7 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Globally, gold prices eased to a near one-week low on Tuesday as the dollar firmed and safe-haven demand slowed, while investors awaited comments from Federal Reserve officials, including Chair Jerome Powell, for more clarity on the interest rate outlook, Reuters reported.

Spot gold was down 0.2% at $1,972.89 per ounce. U.S. gold futures fell 0.5% to $1,979.50.

The dollar rose 0.1% after hitting a six-week low in the previous session, making gold more expensive for other currency holders.

"At the moment it’s really still a story about geopolitical risk, and the margins of risks would seem to have diminished a little bit in gold and prices are reflecting that," said Kyle Rodda, financial market analyst at Capital.com.