Gold prices climb up

By Dat Nguyen   August 14, 2023 | 07:26 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 rose 0.07% to VND67.55 million ($2,831.57) per tael Tuesday morning.

Gold ring price fell 0.26% to VND56.7 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Globally gold prices eased on Tuesday, holding near the key psychological $1,900 level, as U.S. bond yields and the dollar remained elevated ahead of the retail sales data that could shed light on the impact of higher rates on consumer spending, Reuters reported.

Spot gold slipped 0.2% to $1,905.10 per ounce, trading near its lowest level in 1-1/2 months hit in the previous session. U.S. gold futures dropped 0.3% to $1,938.20.

Making bullion expensive for overseas buyers, the U.S. dollar hit its highest levels in more than a month on Monday amid worries over China’s economy. U.S. 10-year Treasury yields were near their highest levels since November.

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