Gold Prices on the Rise

In a notable market shift, the price of gold rings increased by 0.24% to VND84.5 million per tael. It's important to note that a tael equals 37.5 grams or 1.2 ounces.

Global Market Trends

Globally, gold prices slightly decreased in light trading on Friday but are set for a weekly gain. Investors are keenly awaiting insights into the U.S. economy to predict the Federal Reserve's interest rate path for 2025 and the policies of the incoming Donald Trump administration, as reported by Reuters.

Spot gold fell by 0.2% to $2,630.28 per ounce, yet bullion has gained 0.3% this week. U.S. gold futures also saw a slight decrease of 0.2% to $2,649.10.

Record Highs and Future Outlook

This year, gold prices have surged nearly 28%, reaching a record high of $2,790.15 on October 31. This surge is largely driven by the Fed's substantial rate cuts and escalating geopolitical tensions.

Gold is widely regarded as a hedge against geopolitical turmoil and inflation. However, higher rates tend to diminish the appeal of this non-yielding asset.