Saigon Jewelry Company gold bar price started the week down 0.35% to VND143.5 million (US$5,491.14) per tael.

Gold ring price saw a similar drop to VND143 million per tael. A tael is 37.5 grams or 1.2 ounces.

Globally, gold slipped on Monday as investors took profits after prices hit ‌a seven-week high in the previous session, while markets looked to U.S. inflation data for fresh clues on the Federal Reserve's interest rate path, Reuters reported.

Spot gold was down 0.5% at $4,322.28 per ounce. Prices hit their highest since June 17 on Friday after weaker-than-expected U.S. jobs data. U.S. gold futures fell 0.4% to $4,381.60 on ⁠Monday.

Gold jewelry at a store in Ho Chi Minh City, Vietnam. Photo by VnExpress/Quynh Tran

"This looks like a natural stabilisation rather than a meaningful shift in sentiment - I expect gold to remain supported above the $4,300 level in the near term," said Tim Waterer, chief market analyst at KCM Trade.

Key U.S. data scheduled for release this week include the Consumer Price Index (CPI) on Wednesday and the Producer Price Index (PPI) on Thursday.

"Soft ⁠readings would strengthen the case for a rate hold and clear a path for further upside in gold... Middle East uncertainty remains a lingering risk factor, as any renewed escalation that drives oil prices ⁠up could quickly pressure the metal," said Waterer.