Vietnam gold prices slide

Saigon Jewelry Company gold bar declined by 2.33% to VND176 million (US$6,777.83) per tael. A tael equals 37.5 grams or 1.2 ounces.

Gold ring fell 2.89% to VND174.5 million per tael. Gold prices in Vietnam have risen 15% since the beginning of the year.

Globally gold prices climbed more than 1% on Thursday, hovering near one-week highs, as geopolitical and economic tensions continued to bolster prices, while silver and palladium also posted gains, Reuters reported.

Spot gold was up 1.1% at $5,016.89 per ounce. Bullion scaled a record high of $5,594.82 last Thursday.

U.S. private payrolls rose by just 22,000 in January, well below economists' expectations for a 48,000 increase, according to ADP data.

Labor market weakness typically strengthens the case for interest rate cuts aimed at supporting job creation.