Gold prices inch up

Saigon Jewelry Company gold bar price gained 0.38% to VND78.45 million ($3,198.12) per tael Wednesday morning.

Gold ring price went up 0.08% to VND64.55 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Globally gold price rose 0.31% to $2,030.74 per ounce Wednesday, its fifth gaining day in a row.

News of China lowering interest rates sponsored gold’s leg-up alongside a drop in U.S. Treasury bond yields, according to FXStreet.

Last week’s data from the U.S., with the Consumer Price Index and the Producer Price Index smashing estimates, sounded alarms that inflation remains stickier than expected, it said.