Gold ring price inches up

By Minh Hieu   June 11, 2024 | 09:21 pm PT
Gold ring price inches up
A person holds gold jewelry at a shop in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
Saigon Jewelry Company gold ring price increased by 0.13% to VND74.4 million (US$2,923.84) per tael Wednesday morning.

Gold bar price was firm at VND76.98 million, just as it had been since last Thursday. A tael equals 37.5 grams or 1.2 ounces.

Globally, gold price struggles to capitalize on its modest gains registered over the past two days and trades with a negative bias during the Asian session on Wednesday, FXStreet reported.

Gold prices edged 0.2% lower to $2,311.80 per ounce.

The downtick, however, lacks follow-through as traders keenly await the release of the latest consumer inflation figures from the U.S. and the outcome of the highly-anticipated Federal Open Market Committee (FOMC) meeting later this Wednesday.

This should provide fresh cues about the timing when the Federal Reserve will start cutting interest rates, which will determine the near-term trajectory for the non-yielding yellow metal.

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