The most read Vietnamese newspaper
Edition: International | Vietnamese
© Copyright 1997 VnExpress.net. All rights reserved.
Get VnExpress first in Google Search
See more of the news you trust. Make VnExpress a preferred source to prioritise our updates in your Google search results
Saigon Jewelry Company gold bar price rose 0.13% to VND148.6 million (US$5,697.31) per tael, but is down 0.07% from the start of the week.
Gold ring price gained 0.14% to VND148.1 million per tael. A tael equals 37.5 grams or 1.2 ounces.
Local gold prices have slid 2.75% from the start of the year and is around VND6.8 million per tael higher than global rates.
Globally gold prices were steady on Friday and poised for a small weekly gain, as attention turned to highly awaited U.S. payrolls data for clues on the Federal Reserve's next interest rate decision, Reuters reported.
Spot gold held its ground at $4,468.27 per ounce after jumping 2% on Thursday. U.S. gold futures for December delivery fell 0.6% to $4,514.60.
"Weak figures and a rise in unemployment could weaken the case for a rate hike. In this case, gold could recover. However, the metal could remain exposed to changing sentiment, with inflation data releases coming next week," said Ross Maxwell, global strategy operations lead, VT Markets.
"The market continues to benefit from central bank demand, which could limit the extent of any decline."
Though gold is often viewed as an inflation hedge, elevated interest rates tend to weigh on the non-yielding asset.
