Gold prices gain

Gold ring price fell 0.16% to VND61 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Globally gold prices traded in a narrow range on Wednesday as investors refrained from making big bets ahead of the U.S. Federal Reserve's interest rate decision and policy outlook later in the day, Reuters reported.

Spot gold was little changed at $1,978.39 per ounce. U.S. gold futures were flat at $1,993.50.

Traders widely expect the Fed to leave rates unchanged at 5.25%-5.50% this week and are pricing in about a 75% chance of a rate cut in May, according to CME FedWatch Tool.

Gold, which pays no interest, tends to benefit when interest rates fall as this reduces the opportunity cost of holding bullion.