Gold prices gain

By Dat Nguyen   February 7, 2023 | 08:35 pm PT
Gold prices gain
A person holds gold jewelry at a shop in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
SJC gold price rose 0.22% to VND67.5 million ($2,861.08) per tael Wednesday morning.

Gold ring price dropped 0.18% to VND54.8 million. A tael equals 37.5 grams or 1.2 ounces.

Global gold prices ticked higher on Wednesday as the dollar retreated from a one-month peak after U.S. Federal Reserve Chair Jerome Powell did not revert to a more hawkish stance despite last week’s stronger-than-expected jobs report, Reuters reported.

Spot gold was up 0.1% at $1,876.49 per ounce.

"No major takeaways for gold from Powell’s comments yesterday as gold prices were already corrected due to last week’s positive economic release," said Hareesh V, head of commodity research at Geojit Financial Services.

Traders are tracking the performance of the dollar and the global economic situation to get a direction while awaiting fresh cues, Hareesh said further.


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