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Gold prices decline

By Dat Nguyen   May 24, 2024 | 05:57 am PT
Gold prices decline
Gold jewelry on display at a shop in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
Saigon Jewelry Company gold bar price fell for the second day in a row with a 0.33% loss to VND89.5 million ($3,513.80) per tael on Friday.

Gold ring price dropped 0.52% to VND76.4 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Globally gold prices rose on Friday, but were headed for their first weekly fall in three as expectations for interest rate cuts began to fade following the hawkish tone adopted in the U.S. Federal Reserve's latest minutes, Reuters reported.

Spot gold rose 0.54% to $2,340.95 per ounce, as of 1018 GMT, after hitting its lowest since May 9 earlier.

Bullion hit a record high of $2,449.89 on Monday, but has fallen about 5% since then.

 
 
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