Gold Ring Prices See a Slight Decline in Saigon

Saigon Jewelry Company reported a 0.26% decrease in gold ring prices, now at VND116.5 million per tael (approximately US$4,453.19). Meanwhile, gold bar prices remained stable at VND120.7 million per tael.

Global Gold Market Holds Steady

On the global stage, gold prices maintained stability as investors kept an eye on upcoming U.S. payroll data and digested Federal Reserve Chair Jerome Powell's comments on potential rate cuts. The weaker dollar provided some support to bullion prices.

Spot gold was steady at $3,337.12 per ounce, with U.S. gold futures also holding firm at $3,346.

Expert Insights on Gold's Upward Trend

"Gold prices are consolidating after recording the most significant gains in two weeks. The overall trend still leans towards an upward movement," noted Ilya Spivak, head of global macro at Tastylive. He emphasized that Fed policy expectations are currently the focal point for the market.