Gold prices advance

By Dat Nguyen   January 18, 2024 | 11:30 pm PT
Gold prices advance
A person holds gold jewelry at a shop in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
Saigon Jewelry Company gold bar price went up 0.39% to VND76.75 million ($2,126.84) per tael Friday morning.

Gold ring price gained 0.24% to VND63.55 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Gold prices were set on Friday for their worst week in more than a month, as the dollar and Treasury yields strengthened after U.S. central bankers pushed back against expectations of early rate cuts amid signs of resilience in the economy, Reuters reported.

Spot gold edged 0.1% higher to $2,023.52 per ounce by 0158 GMT. However, it has fallen 1.2% so far in the week.

U.S. gold futures rose 0.2% to $2,025.40.

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