Gold Prices Remain Stable Despite Market Volatility

The price of gold bars has remained stable at VND85.5 million per tael, with one tael equivalent to 37.5 grams or 1.2 ounces. This stability comes as a relief to investors amidst the global economic uncertainty.

Globally, gold prices have steadied as markets await key U.S. jobs data and comments from Federal Reserve Chair Jerome Powell. These insights are crucial for understanding the trajectory of U.S. interest rate cuts, as reported by Reuters.

Spot gold has held its ground at $2,644.42 per ounce, while U.S. gold futures eased slightly by 0.1% to $2,666.40. The primary factor behind gold's lackluster movement is the market's anticipation of a shallower U.S. rate cut cycle for 2025, according to Kelvin Wong, OANDA's senior market analyst for Asia Pacific.

Despite these short-term fluctuations, the longer-term bullish trend for gold remains intact. This is due to rising trade tensions and potential strain on U.S. budget deficits, as noted by Wong. U.S. central bankers have signaled support for further cuts, but no strong consensus has emerged for or against doing so at their next meeting in two weeks.

Non-yielding bullion, such as gold, thrives in a low interest rate environment, making it a popular choice for investors seeking stability.