Gold price surges

By Minh Hieu   April 23, 2024 | 08:28 pm PT
Gold price surges
SJC gold bars at at a shop in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
Saigon Jewelry Company gold bar rose 1.2% to VND84.3 million ($3,312.7) per tael Wednesday morning.

Gold ring price dropped 1.58% to VND74.7 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Globally, gold price is nursing losses while holding above $2,300 early Wednesday, stalling its two-day decline, as traders look forward to the mid-tier US economic data for fresh cues on the US Federal Reserve (Fed) interest rates outlook, FXStreet reported.

Despite the extended pullback in the US Dollar and the US Treasury bond yields on Tuesday, gold price built on its corrective downside, as ebbing fears over a wider regional conflict in the Middle East dented the safe-haven appeal of Gold price.

Additionally, risk-rally on Wall Street indices, in anticipation of corporate earnings results from key US tech giants, also weighed on the traditional safety bet, gold price.

Spot gold dropped 0.2% to $2,317.39 an ounce.

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