Gold prices shoot up

Gold ring price went up 0.36% to VND68.7 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Globally gold held steady on Tuesday as investors stayed on the sidelines ahead of the U.S. Federal Reserve policy meeting this week, which could offer further clues on the timing of likely interest rate cuts this year, Reuters reported.

Spot gold was little changed at $2,160.79 per ounce, as of 0426 GMT. U.S. gold futures were flat at $2,164.10.

With the Fed widely expected to hold rates steady at the end of its two-day monetary policy meeting on Wednesday, the market is awaiting policymakers' updated economic and interest rate projections.