Gold prices increase

By Ngan Anh   January 27, 2023 | 03:46 am PT
Gold prices increase
Marked ingots of 99.99 percent pure gold are placed in a cart at the Krastsvetmet non-ferrous metals plant in the Siberian city of Krasnoyarsk, Russia March 10, 2022. Photo by Reuters
SJC gold price climbed to VND68.5 million per tael Friday afternoon, up 1.18% from January 19, the last day of trading before the Lunar New Year holidays began.

Gold ring price went up 1.35% to VND56.2 million. A tael equals 37.5 grams or 1.2 ounces.

Globally, gold edged lower on Friday as robust U.S. economic data was seen as fodder for the Federal Reserve to keep interest rates high for longer, but caution ahead of inflation data and the policy meeting next week put a floor under bullion prices, according to Reuters.

Spot gold was down 0.2% at $1,926.09 per ounce, as of 0944 GMT, but held a relatively tight range after retreating nearly 1% in the previous session following the U.S. data.

U.S. gold futures eased 0.1% to $1,927.30.

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