Gold Ring Price Sees a Minor Decrease

The price of gold rings experienced a slight decline of 0.12%, settling at VND92.7 million per tael. It's important to note that one tael is equivalent to 37.5 grams or 1.2 ounces.

Global Gold Market Trends

On a global scale, gold prices saw an uptick on Tuesday. This increase was attributed to a weaker dollar and heightened demand for safe-haven assets. Investors are keenly awaiting inflation data to better understand the Federal Reserve's policy direction, especially in light of ongoing trade tensions and concerns over slowing economic growth following U.S. President Donald Trump's imposition of tariffs, as reported by Reuters.

Spot gold rose by 0.3% to $2,897.39 an ounce, while U.S. gold futures remained steady at $2,900.80.

Impact of the Dollar and Treasury Yields

The dollar index lingered near a four-month low, a position it hit last week. This scenario makes bullion more affordable for international buyers. Concurrently, the benchmark 10-year U.S. Treasury yields have fallen.

Expert Analysis on Gold's Market Position

Ilya Spivak, head of global macro at Tastylive, commented on the situation, stating, "The overall uptrend remains intact and the path of least resistance favors the upside, but the market needs to find new momentum to break free of its congestive range before this is actionable in the near term."

Gold is traditionally viewed as a hedge against political risks and inflation. However, the appeal of the non-yielding metal can be diminished by higher rates.

"Prices have been stable in a range between about 2,830 and 2,960 for the past four weeks...We would need to see a convincing break above or below these boundaries to conclude that some sort of lasting directional move is resuming," Spivak added.