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Saigon Jewelry Company gold bar went up 1.47% to VND144.5 million (US$5,621.58) per tael. A tael equals 37.5 grams or 1.2 ounces.
Gold ring added 1.56% to VND143 million per tael. Gold prices in Vietnam have fallen 5.43% so far this year.
Globally gold surged 1.89% to $4,136.20 per ounce, following a 3% increase on Wednesday as the dollar tumbled after Democrats swept the U.S. midterm elections, while investors looked to this week's U.S. nonfarm payrolls report for clues on the interest rate outlook, Reuters reported.
The weaker dollar boosted gold's appeal by making dollar-priced bullion less expensive for overseas buyers.
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Gold jewelry seen at a shop in HCMC. Photo by VnExpress/Quynh Tran |
Gold drew support from a weaker dollar, reflecting the view that a U.S. Congress that is likely to be deadlocked on much legislation would probably be somewhat negative for the U.S. economy, which could allow the Federal Reserve to lean into easier monetary policy, said Jim Wyckoff, a market analyst at American Gold Exchange.
