Gold prices increase as global rates slip

Saigon Jewelry Company gold bar price rose 0.42% to VND118.5 million (US$4,558.22) per tael.

Gold ring price was up 0.62% to VND114 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Globally, gold prices fell on Friday amid a slight uptick in dollar, while investors awaited a key U.S. inflation report that may provide further insight into the Federal Reserve's policy trajectory, Reuters reported.

Spot gold was down 0.5% at $3,300.59 an ounce. Bullion is down 1.7% so far this week. U.S. gold futures fell 0.5% to $3,298.30. The dollar index rose, making gold more expensive for overseas buyers.

"Gold prices are more or less consolidating at this point of time... what we see is that these are normal market occurrences just at the range now is slightly wider mainly due to the confidence in the U.S. dollar," said Brian Lan, managing director at GoldSilver Central, Singapore.

San Francisco Fed President Mary Daly said on Thursday that policymakers could still reduce interest rates twice this year, but rates should remain steady for now to ensure inflation is on track to reach the central bank's 2% goal.

Non-yielding bullion tends to benefit in low-interest-rate environments.