Gold prices climb up

By Dat Nguyen   March 9, 2023 | 08:58 pm PT
Gold prices climb up
A person holds gold jewelry at a shop in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
SJC gold price gained 0.15% to VND66.65 million ($2,814.02) per tael Friday morning.

Gold ring price went up 0.28% to VND54.35 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Globally gold prices eased on Friday as investors keenly look forward to the U.S. non-farm payrolls report due later in the day to assess the likely path of the Federal Reserve’s rate-tightening cycle, Reuters reported.

Spot gold was down 0.1% at $1,828.90 per ounce. U.S. gold futures also fell 0.1% to $1,832.90.

Bullion is likely to decline this week and is down about 1.4% for the period.

"The recent hawkish comments from the U.S. Fed Chair, a recovery in the greenback and easing fears of a recession in many economies caused a withdrawal of investment from gold-like safe-havens," said Hareesh V, head of commodity research at Geojit Financial Services.

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