Gold prices decline

By Dat Nguyen   March 1, 2023 | 08:06 pm PT
Gold prices decline
A person holds gold jewelry at a shop in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
SJC gold price dropped 0.07% to VND66.9 million ($2,821.65) per tael Thursday.

Gold ring price remained stable at VND54.05 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Globally gold prices were little changed on Thursday, after a slew of economic data added to investor concerns that interest rates globally could stay higher for longer than expected, Reuters reported.

Spot gold was flat at $1,836.69 per ounce after hitting a one-week peak on Wednesday.

Data on Wednesday showed U.S. manufacturing contracted for a fourth straight month in February, but there were signs that factory activity was starting to stabilize, with a measure of new orders pulling back from a more than 2-1/2-year low.

The dollar index eased 0.1%, making bullion more affordable for buyers holding other currencies.

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