Local gold prices are higher than global prices. They are VND11.5 million higher per tael.

The price of a gold ring increased by 0.36% to VND141 million per tael. One tael is equal to 37.5 grams or 1.2 ounces. This is a measure of weight. Gold is sold by weight.

Gold prices rose globally on Monday. This happened after oil prices fell. The US President did not attack Iran. He wants a deal. This made people less worried about inflation and interest rates.

The price of gold increased by 0.4% to $4,055.76 per ounce. US gold futures rose by 0.9% to $4,054.00. These are two different measures of gold prices.

Oil prices dropped by 5%. The US dollar was under pressure. This made gold cheaper for people who do not use the US dollar.

There are gold bars at a store in Ho Chi Minh City. A photo was taken by VnExpress/Quynh Tran.

Gold started the week in a positive way. However, the gains are limited. There is still uncertainty about oil markets and the Middle East. This is what Tim Waterer said.

For gold prices to increase more, oil prices need to drop. The US dollar needs to be weaker. Or, the Fed needs to change its interest rate expectations. This is what Tim Waterer said.

If there is more conflict in the Middle East, oil prices could rise. This could limit the increase in gold prices. A strong jobs report could also affect interest rates and gold prices.