Gold Ring Prices See Slight Increase

In a recent development, the price of gold rings has seen an increase of 0.23%, now standing at VND86.7 million per tael. It's important to note that a tael is equivalent to 37.5 grams or 1.2 ounces.

Global Gold Prices on the Rise

On the global stage, gold prices have been hovering around $2,714 as of Friday, closely approaching Thursday's peak of $2,724.55. This marks the strongest level gold has reached in over a month, as reported by Reuters.

Economic Data Influences Gold Prices

The surge in gold prices to a more-than-one-month high on Thursday was largely influenced by the latest U.S. economic data. This data exerted further pressure on Treasury yields, following a soft core inflation reading earlier in the week. Such developments have increased speculation around a more dovish Federal Reserve policy.

"The environment for gold remains supportive, especially as long as market participants continue to anticipate Fed rate cuts in 2025," commented Han Tan, chief market analyst at Exinity Group.

Gold is traditionally viewed as a hedge against inflation and geopolitical uncertainty. However, it's worth noting that higher interest rates can diminish the appeal of non-yielding bullion.