Gold prices continue to climb

By Dat Nguyen   November 21, 2023 | 08:06 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
Gold prices continued to go up Wednesday morning and secured another year-to-date peak at VND71.3 million ($2,949.82) per tael, up 0.14% from Tuesday.

Gold ring price rose 0.25% to VND60.55 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Globally gold held below the key $2,000 level on Wednesday, as the dollar stabilized from its recent drop, although expectations that the U.S. Federal Reserve has reached the end of its tightening cycle put a floor under bullion prices, Reuters reported.

Spot gold was down 0.1% at $1,996.79 per ounce after hitting a three-week high of $2,007.29 in the previous session. U.S. gold futures were also down 0.1% at $1,998.80.

he dollar held steady against its rivals after dropping to a more than 2-1/2-month low in the previous session. A weaker dollar makes gold less expensive for other currency holders.

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