Gold Prices Experience a Significant Decline

Gold prices have dropped 0.48% to VND83.4 million per tael, marking a 5-week low. This decline is attributed to the Federal Reserve's recent signals of slowing rate cuts in its monetary policy-easing cycle.

Global Market Impact and Future Projections

Globally, gold prices are set for a weekly decline as investors turn their attention to upcoming U.S. Personal Consumption Expenditure data. Spot gold remains steady at $2,596.89 per ounce, having lost about 2% this week. Meanwhile, U.S. gold futures have slightly increased by 0.1% to $2,611.30.

Analyst Insights on Market Dynamics

According to Soni Kumari, a commodity strategist at ANZ, gold prices are consolidating as investors await further developments, including Trump's return to office and the Fed's upcoming meetings. These events will likely influence the market based on data trends and potential changes in trade policy.