Gold prices climb on God of Wealth Day

But gold ring price fell 0.71% to VND55.7 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Buying gold on the God of Wealth Day (the 10th day of the lunar year or January 31 this year), is believed to bring good fortune to their business and family through the year.

Global gold prices were flat on Tuesday, as market participants held back from making large bets ahead of the U.S. Federal Reserve policy decision, Reuters reported.

Spot gold held its ground at $1,922.26 per ounce.

Traders mostly expect the U.S. central bank to scale back rate hikes to 25 basis points (bps) at its two-day policy meeting that ends on Wednesday.