A person arranges gold jewelry at a shop in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
Vietnam gold bar price dropped 0.21% to VND92.9 million (US$3,642.42) per tael Saturday morning, slightly moving around the all-time high of VND93 million.
Gold ring price declined by 0.21% to VND92.8 million.
Globally gold prices eased on Friday but were poised for a weekly gain due to safe-haven inflows and a U.S. jobs report revealing lower-than-expected job growth in February, suggesting that the Federal Reserve is on track to cut interest rates this year, Reuters reported.
Spot gold fell 0.1% to $2,906.04 an ounce as of 1:46 p.m. Bullion has gained about 1.7% so far this week, as U.S. President Donald Trump’s ever-shifting tariff policies fanned uncertainty.
“Weaker than expected number is giving gold a slight boost … also a weaker dollar for the week right now is helping,” said Bob Haberkorn, senior market strategist at RJO Futures.
The market is currently in a consolidation phase, with safe haven interest providing ongoing support, said Peter Grant, vice president and senior metals strategist at Zaner Metals.
