Gold Prices on the Rise

The price of gold bars remained stable at VND85.1 million per tael, with a tael equivalent to 37.5 grams or 1.2 ounces. Globally, gold prices edged higher as the focus shifted to the Federal Reserve's upcoming monetary policy decision.

Impact of Federal Reserve's Policies

Anticipating a third rate cut this year, the U.S. central bank's decisions are closely watched for insights into its plans for 2025. Spot gold nudged 0.1% higher to $2,648.43 per ounce, while U.S. gold futures were flat at $2,663.20.

Economic Indicators and Gold's Performance

The increase in U.S. retail sales in November, exceeding expectations, has added to recent warmer inflation readings. This suggests the central bank could pause rate reduction in January. Non-yielding gold tends to perform well in a low-interest-rate environment.