Gold Ring Prices Experience a Slight Decline

Gold ring prices have seen a decrease of 0.59%, settling at VND84.8 million per tael. It's important to note that a tael is equivalent to 37.5 grams or 1.2 ounces.

Global Gold Prices Remain Steady

On the global stage, gold prices have remained relatively unchanged this Monday. Investors are keenly awaiting a series of U.S. economic data releases, including the December nonfarm payrolls report, to gain further insights into the Federal Reserve's stance on interest rates, as reported by Reuters.

Spot gold has maintained its position at $2,635.39 per ounce, while U.S. gold futures have seen a slight drop of 0.2% to $2,646.80.

U.S. Economic Data: A Key Factor for Gold's Future

According to Tim Waterer, chief market analyst at KCM Trade, the performance of U.S. jobs data this week could be crucial in determining whether gold breaks out of its recent range. "With a plethora of U.S. data due for release this week, including ISM Services PMI data, any downside misses could negatively impact the USD and benefit gold," he stated.

Anticipated Policies Under the New U.S. Administration

With U.S. President-elect Donald Trump set to return to office on Jan. 20, his proposed tariffs and protectionist policies are expected to fuel inflation. This scenario could lead the Fed to slow down on rate cuts, thereby limiting gold's potential upside. After implementing three rate cuts in 2024, the Fed has projected only two reductions for 2025 due to persistent inflation.

Gold typically thrives in a low-interest-rate environment and serves as an effective hedge against geopolitical uncertainties and inflation.