Gold prices steady at all-time high

Gold ring price fell 0.13% to VND75.1 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Globally, gold price attracts some buyers during the Asian trading hours on Wednesday, FXStreet reported.

Safe-haven demand, fueled by geopolitical tensions and uncertainty, as well as ongoing central bank purchases, might contribute to a rally in gold.

Nonetheless, the hawkish remarks from Federal Reserve (Fed) officials might dampen hopes for potential interest rate cuts in 2024, despite weaker-than-expected US employment reports in April. This, in turn, might drag the precious metal lower.

Gold was up 0.16% to $2,318.73 per ounce as of 11:30 a.m.