Gold Prices Dip as U.S. Dollar Gains Strength

In a recent turn of events, the Saigon Jewelry Company reported a decline in gold bar prices by 0.46% to VND86.9 million (US$3,430.73) per tael. Similarly, gold ring prices also saw a decrease of 0.46%, settling at VND86.3 million per tael. It's noteworthy that a tael is equivalent to 37.5 grams or 1.2 ounces.

Global Market Trends Influence Gold Prices

On the global front, gold prices experienced pressure due to an uptick in the U.S. dollar on Friday. Despite this, gold remained on track for a weekly gain. This is attributed to the uncertainties surrounding incoming President Donald Trump's policies and renewed bets on further rate cuts, which have lifted bullion above the key $2,700 level, as reported by Reuters.

Spot gold prices eased by 0.4% to $2,701.03 per ounce, while U.S. gold futures saw a slight decrease of 0.1%, settling at $2,748.70.