Gold prices continue to retreat

By Dat Nguyen   June 26, 2023 | 08:39 pm PT
Gold prices continue to retreat
A person holds gold bars at a shop in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
SJC gold price fell 0.07% to VND66.95 million ($2,845) per tael Tuesday morning.

Gold ring price lost 0.09% to VND56.45 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Globally gold prices were flat on Tuesday, hovering slightly above their three-month lows, while the U.S. dollar strengthened as traders looked to hedge against a political turmoil in Russia and the Federal Reserve’s hawkish outlook, Reuters reported.

Spot gold held its ground at $1,923.94 per ounce, while U.S. gold futures were also listless at $1,933.90.

The dollar index edged up 0.1%, making greenback-priced bullion less attractive for overseas buyers.

Investors stuck to safe-haven assets such as dollar and gold in light of an aborted mutiny over the weekend in Russia.

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