Gold prices gain marginally

Gold ring price rose 0.26% to VN57.4 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Globally gold prices gained on Friday as the dollar eased against the yuan after promising China economic data boosted recovery hopes in the world’s top bullion consumer, although the possibility of further U.S. interest rate hikes kept investors on edge, Reuters reported.

Spot gold was up 0.3% at $1,915.09 per ounce. Bullion was still on track for a small weekly decline after dropping to near $1,900 level, its lowest since Aug. 23, on Thursday. U.S. gold futures were up 0.2% to $1,936.70.

The yuan hit two-week highs against the dollar after data showed China factory output and retail sales in August beat forecasts in boost to recovery prospects. A softer dollar makes greenback-priced bullion more attractive for overseas buyers.