Gold prices gain
Vietnam's gold prices rose on Wednesday morning amid a dip in global bullion rates.
Gold prices experienced a modest increase, with the price of gold jewelry bars rising by 0.49% to VND142.7 million per tael in Vietnam. Ring prices rose more significantly, jumping 0.72% to VND140 million per tael. A tael weighs 37.5 grams or 1.2 ounces.
On a global scale, gold prices saw a slight decline on Wednesday, erasing much of the 1% gain from the previous day. This downturn was attributed to rising oil prices, which raised inflation concerns, and investors eagerly awaited the Federal Reserve's policy decision for clues on future interest-rate outlook. Spot gold fell 0.3% to $4,045.29 per ounce, while US gold futures for December delivery slipped 0.4% to $4,059.00.
Surveys of analysts, as reported by Reuters, suggested that they had lowered their 2026 gold price forecast for the second quarter in a row. This decision was based on factors such as high Treasury yields, a strong US dollar, and expectations of sustained higher interest rates. However, these same analysts expressed optimism for a possible rebound in the gold market in 2027.
Despite near-term risks leaning towards further consolidation, the demand backdrop for gold is expected to provide some buffer once liquidation pressure subsides. Strategist Christopher Wong of lender OCBC noted in a Bloomberg interview that for gold to regain more stable momentum, it would need a mix of lower oil prices, subdued inflation, a weaker US dollar, and reduced yields.
Written by urgent.news from VnExpress Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
