Gold jumps to near 7-month high

By Dat Nguyen   August 22, 2023 | 08:24 pm PT
Gold jumps to near 7-month high
A person holds gold jewelry at a shop in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
SJC gold price rose 0.15% to VND67.75 million ($2,844.25) per tael Wednesday morning, highest since Jan. 28.

Gold ring price was stable at VND56.85 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Globally gold prices gained on Wednesday, as a slight pullback in U.S. dollar and Treasury yields helped bullion stabilize near a key $1,900 level ahead of a central bankers’ gathering that would likely provide cues on interest rates outlook, Reuters reported.

Spot gold was up 0.2% at $1,900.30 per ounce, while U.S. gold futures rose 0.2% to $1,929.40.

The dollar index was sitting below two-month highs, while a rally that took U.S. Treasury yields to nearly 16-year highs took a pause, giving some respite to gold that does not yield any interest.

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