Gold price bounces to 4-week high

Gold ring price went up 0.7% to VND86.6 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Globally gold rebounded on Friday as uncertainty surrounding the incoming Trump administration's policies lifted safe-haven appeal, even as a stronger-than-expected U.S. employment data reinforced expectations the Federal Reserve might not cut interest rates as aggressively this year, Reuters reported.

Spot gold was up 0.6% at $2,686.24 per ounce while U.S. gold futures settled 0.9% higher at $2,715.00.