Gold prices gain

Saigon Gold Jewelry Company gold bar price gained 0.49% to VND142.7 million (US$5,522.33) per tael.

Gold ring price jumped 0.72% to VND140 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Globally, gold prices edged lower on Wednesday, giving up some of the previous session's 1% gain as higher oil prices fueled inflation concerns and investors awaited the Federal Reserve's policy decision later in the day for signals on the interest-rate outlook.

Spot gold was down 0.3% at US$4,045.29 per ounce. US gold futures for December delivery dropped 0.4% to US$4,059.00.

Gold bars at a store in Ho Chi Minh City. Photo by VnExpress/Quynh Tran

Analysts surveyed by Reuters lowered their 2026 gold price forecast for a second consecutive quarter, citing high Treasury yields, a strong US dollar and expectations that interest rates will remain higher for longer. They nevertheless anticipate a rebound in 2027.

"Near-term risks remain tilted to further consolidation, but the demand backdrop should provide some cushion once liquidation pressure fades," Christopher Wong, strategist at lender OCBC, wrote in a note cited by Bloomberg.

"Gold needs a combination of lower oil prices, softer inflation and a lower US dollar and yields to regain more durable upside momentum."