Gold ring price rises

Gold bar price was stable at VND85.5 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Globally, gold prices steadied on Wednesday as markets awaited U.S. jobs data and comments from Federal Reserve Chair Jerome Powell for further insights into the U.S. interest rate cut trajectory, Reuters reported.

Spot gold held its ground at $2,644.42 per ounce. U.S. gold futures eased 0.1% to $2,666.40.

The primary factor behind gold's lackluster movement is that markets anticipated a much shallower U.S. rate cut cycle for 2025, said Kelvin Wong, OANDA's senior market analyst for Asia Pacific.

However, the longer-term bullish trend for gold remains intact amid rising trade tensions and potential strain on U.S. budget deficits, he added.

U.S. central bankers signaled support for further cuts, but none pushed strongly for or against doing so at their next meeting in two weeks.

Non-yielding bullion thrives in low interest rate environment.