Gold prices decline

By Dat Nguyen   May 15, 2024 | 09:32 pm PT
Gold prices decline
A person holds gold jewelry at a shop in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
Saigon Jewelry Company gold bar price fell 0.22% to VND90 million ($3,537.59) per tael Thursday morning.

Gold ring price gained 0.46% to VND77.05 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Globally gold prices inched up on Thursday following a sharp rise in the last session as the dollar and bond yields weakened on the increasing likelihood of rate cuts by the U.S. Federal Reserve as early as September, Reuters reported.

Spot gold rose 0.1% at $2,388.10 per ounce after gaining more than 1% to its highest since April 19 on Wednesday. U.S. gold futures rose 0.1% to $2,393.20.

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