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Gold ring price was stable at VND74.8 million per tael. A tael equals 37.5 grams or 1.2 ounces.
Globally gold closed at $2,301.20 Friday, a slight drop of 0.09%, after a report in the U.S. showed a lower-than-expected number of new workers in April.
The latest Kitco News Weekly Gold Survey has experts as pessimistic as they’ve been in some time about gold’s near-term prospects, while most retail traders still see gold prices falling or chopping sideways.
FXTM Senior Research Analyst Lukman Otunuga said the signals are bearish for bullion in the coming days. "Gold prices are flashing red, surrendering initial gains from the downbeat US jobs report," he said as cited by Kitco News.
