Gold Prices Experience a Subtle Increase

The price of gold rings has seen an uptick, reaching VND92.8 million per tael. It's important to note that a tael is equivalent to 37.5 grams or 1.2 ounces.

Global Market Trends Influence Gold Prices

On a global scale, gold prices have edged higher, marking a potential weekly rise. This movement is attributed to a weakening dollar and the ongoing uncertainties surrounding U.S. President Donald Trump's tariff plans. Investors are keenly awaiting the U.S. non-farm payrolls data, which is expected to provide further market direction.

Spot gold has increased by 0.2% to $2,916.88 an ounce, with bullion adding more than 2% over the week. Conversely, U.S. gold futures have seen a slight decline of 0.3% to $2,918.80.

Expert Insights on Gold Market Dynamics

Kunal Shah, head of research at Nirmal Bang Commodities in Mumbai, shared his perspective: "The market is in a holding pattern, awaiting new developments in the trade war saga. The outlook for gold remains highly optimistic." Shah highlighted several factors contributing to this bullish outlook, including ongoing trade tensions, inflation uncertainties, and a weaker dollar, all indicative of a slowing economy.

The policies implemented by President Trump, perceived as catalysts for economic uncertainties, have played a significant role in the 10% rise in safe-haven gold prices year-to-date.