Gold ring price inches up

Gold bar was stable at VND85.2 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Globally, gold prices gained on Monday as investors awaited U.S. inflation data due this week for clues on the Federal Reserve’s next monetary policy moves, Reuters reported.

Spot gold was up 0.5% at $2,644.91 per ounce. Bullion fell nearly 1% last week. U.S. gold futures added 0.3% to $2,666.80.

Gold is supported by headlines that China’s central bank is back to purchasing gold in November which could be "good news for gold bulls" in knowing that they have the People's Bank of China (PBOC) behind their back to underpin some strength for bullion prices, IG market strategist Yeap Jun Rong said.

Federal Reserve officials appeared on track to cut interest rates this month after data showed the U.S. labor market remained strong but continued to cool in November.