Gold prices continue to climb

By Dat Nguyen   August 23, 2023 | 07:56 pm PT
Gold prices continue to climb
A person holds gold jewelry at a shop in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
SJC gold price rose 0.22% to VND68.05 million ($2,835.43) per tael Thursday morning, standing firm at the highest level in nearly seven months.

Gold ring price gained 0.18% to VND57 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Globally gold prices hovered near two-week highs on Thursday, lifted by a retreat in the U.S. dollar and Treasury yields as investors waited to see what interest rate signals the U.S. Federal Reserve could send at its annual Jackson Hole meeting, Reuters reported.

Spot gold was up 0.2% at $1,917.50 per ounce, close to its highest level since Aug. 11 hit on Wednesday. U.S. gold futures were little changed at $1,945.80.

The dollar nursed a sharp pullback against Asian currencies, after softer-than-expected global economic data muddied the interest rate outlook and pushed down U.S. yields.

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