Gold prices rise

By Dat Nguyen   December 28, 2022 | 02:13 am PT
Gold prices rise
A person holds gold bars at a shop in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
SJC gold prices inched up 0.15% from an 11-week low Tuesday to VND66.7 million ($2,779) per tael Wednesday afternoon.

Gold ring prices dropped 0.19% to VND53.85 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Global spot gold was down 0.3% at $1,807.80 per ounce as the U.S. dollar ticked up, but prices moved in a tight range in subdued trading due to the lack of any fresh triggers, Reuters reported.

Gold is seeing limited price action as trading activity is light ahead of the New Year holiday and there is no major economic data scheduled this week, said Hareesh V., head of commodity research at Geojit Financial Services.

Gold has risen nearly $200 from a more-than-two-year low in late September as the dollar’s appeal was dented by expectations that the U.S. Federal Reserve would slow its pace of interest rate hikes.

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