Vietnam gold inches up to new record

Gold bar price went up 0.16% to VND128.2 million (US$4,866.47) per tael.

Gold ring rose 0.16% to VND122.6 million per tael, also another record. A tael equals 37.5 grams or 1.2 ounces.

Vietnam’s gold price has surged 52% since the beginning of the year.

Globally gold prices remained stable on Thursday, as market participants held back from placing big bets ahead of U.S. economic data that could help shed further light on the Federal Reserve's interest rate trajectory, Reuters reported.

Spot gold held its ground at $3,390.27 per ounce, after hitting its highest point since August 11 earlier in the session.

"We've got a lot of positive interest for gold because of that sort of issues with institutional trusts and risks about Fed's independence," said Kyle Rodda, Capital.com's financial market analyst.

Investors are now awaiting the release of the Personal Consumption Expenditures Price Index, the preferred inflation measure of the U.S. Fed, scheduled for Friday.

"But we're really looking for something more sort of to push the price above critical level of $3,400 ... the U.S. PCE data will be super significant. We are still bullish on gold. I think all the fundamentals moving in the right direction," Rodda added.