Gold prices gain - VnExpress International

AI desk brief

Gold rebounded after recent losses, with spot up 1.1% to $4,363.01/oz on Friday, while still down about 1.5% for the week. In Vietnam, Saigon Jewelry Company gold bar rose 0.41% to VND146 million/tael, while gold rings fell 1.14% to VND146.9 million/tael; local gold remains down 4.45% year to date.

The move came despite strong U.S. inflation data that reinforced expectations for a Federal Reserve rate hike next week, which is typically a headwind for bullion. Independent trader Tai Wong said gold is recovering after a brief dip and noted the market had already priced in roughly a 70% chance of a hike, suggesting a short-term base may be forming.