Today: 01/06/2023 23:57:00 (GMT+7)

Gold prices rise

SJC gold prices rose 0.22% to VND67.25 million ($2,852.60) per tael Saturday morning. Gold ring prices went up 0.18% to VND54.2 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Globally spot fold rose 0.5% to $1,798.40 per ounce Friday as some investors still expect the Federal Reserve will slow the pace of rate hikes from early next year, Reuters reported.

Gold prices rise, Gold ring, SJC gold, raising interest rates, general support

A person holds gold jewelry at a shop in Ho Chi Minh City.

"The market seems to be focused on a light at the end of the tunnel, a point at which the Fed is done raising interest rates and based on that we’ve seen general support in gold," said David Meger, director of metals trading at High Ridge Future.

A 50-basis-point rate hike is widely expected to be delivered by the Fed at its final meeting of 2022 scheduled on Dec. 13-14.

Gold prices surge as Fed signals slower rate hikes
Gold prices rose as soon as the U.S. Federal Reserve announced that it may slow the pace of interest rate hikes in the future.
Gold prices slip further
Gold price at the state-owned Saigon Jewelry Company (SJC) dropped 0.15% to VND67.4 million ($2,712) per tael Tuesday.
Gold prices drop
Prices of gold bars branded SJC on Saturday dropped VND100,000 ($4.03) from the previous day to VND67.6 million per tael.
Vietnam strikes deal with French auction house for 11-kg imperial gold seal
Vietnam has successfully negotiated direct purchase of a 19th century imperial seal from French auction house Millon.
Gold prices hit 3-month high
The Saigon Jewelry Company (SJC) hiked the price of gold by VND400,000 ($16.08) per tael to VND67.7 million Saturday morning.

Source: VnExpress

Gold prices rise, Gold ring, SJC gold, raising interest rates, general support
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