Gold Prices Hold Steady in Vietnam

In Vietnam, the price of a gold ring remains stable at VND86.1 million per tael, with a tael equating to 37.5 grams or 1.2 ounces.

Global Market Trends

On a global scale, gold prices experienced a slight decrease on Wednesday. Investors are treading carefully as they await the U.S. consumer price inflation report, which is expected to shed light on the Federal Reserve's interest rate decisions, according to Reuters.

Spot gold saw a minor decline of 0.1% to $2,675.72 per ounce, while U.S. gold futures increased by 0.3% to $2,690.60.

Expert Analysis

Kelvin Wong, OANDA's senior market analyst for Asia Pacific, noted, "A higher CPI data could potentially lower gold prices, reinforcing the expectation that the Fed might revert to a more hawkish policy in 2025."

Gold, which does not yield interest, is often used as a hedge against inflation. However, its attractiveness diminishes when interest rates rise.

Wong also mentioned, "Should gold prices continue to fall and break below the November range of $2,600, the next significant level would be around $2,540, which might be an appealing point for long-term investors."

Wang Tao, a Reuters technical analyst, predicts that spot gold could potentially drop towards $2,635.