Gold prices in Vietnam continued their upward trend on Thursday morning, with the Saigon Jewelry Company (SJC) gold bar price rising 0.32% to VND 93 million (US$3,654.37) per tael. Similarly, the gold ring price increased 0.32% to VND 92.6 million per tael, reflecting strong demand in the domestic market.
A tael is equivalent to 37.5 grams or 1.2 ounces of gold.
Global Gold Prices Hold Steady Amid Fed Policy Uncertainty
On the international market, gold prices remained steady at $2,924.11 per ounce, as investors awaited the release of the U.S. non-farm payrolls report on Friday, which is expected to provide further insight into the Federal Reserve’s monetary policy trajectory, according to Reuters.
Market analysts suggest that any indication of slowing U.S. job growth could strengthen the case for potential rate cuts, which would likely support gold prices. Conversely, strong labor market data could reduce expectations for monetary easing, potentially weighing on the metal’s appeal.
Oil Prices Struggle Amid Supply Concerns
Meanwhile, the oil market faced renewed pressure following a sharp decline in previous sessions. A combination of factors—including a larger-than-expected rise in U.S. crude inventories, plans by OPEC+ to increase production, and new U.S. tariffs on key oil suppliers—has contributed to ongoing price weakness.
As a result, Brent crude futures hovered near their lowest levels in more than three years, struggling to recover from the downturn seen earlier in the week.
Traders continue to monitor supply-demand dynamics, with geopolitical uncertainties and production adjustments playing a key role in shaping short-term market trends.
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