A person arranges gold jewelry at a shop in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
Saigon Jewelry Company gold price fell 0.59% to VND83.6 million per tael Friday morning.
Gold ring dropped 0.48% to VND83.4 million per tael.
Globally gold prices were set for a weekly decline on Friday after the Federal Reserve’s verdict on its monetary policy-easing cycle signaled a slowdown in rate cuts, while focus shifted to the U.S. Personal Consumption Expenditure data due later in the day, Reuters reported.
Spot gold was little changed at $2,596.89 per ounce, and has lost about 2% so far this week.
U.S. gold futures nudged 0.1% higher to $2,611.30.
Gold is consolidating as “investors await Trump to resume office next year and the Fed will also go meeting by meeting, considering the data development and seeing what is part of Trump’s trade policy,” said Soni Kumari, a commodity strategist at ANZ.
