Gold prices plunge to 4-month low

By Dat Nguyen   June 5, 2024 | 09:25 pm PT
Gold prices plunge to 4-month low
A person holds gold bars at a shop in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
Saigon Jewelry Company gold bar price dropped 1.28% to VND76.98 million ($3,027.43) per tael, lowest since Jan. 29.

Vietnam gold price is now 5.5% higher than the global rate.

Gold ring price gained 0.40% to VND75.1 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Globally gold ring price attracted some follow-through buying for the second straight day and climbed to a two-week top around $2,373, according to financial data platform FXStreet.

The markets are now pricing in a greater chance for an imminent rate cut by the Federal Reserve amid signs of a slowdown in the U.S. economy, it added.

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