Gold prices continue to rise

By Minh Nga   October 5, 2023 | 09:16 pm PT
Gold prices continue to rise
Gold sold at a shop in HCMC. Photo by VnExpress/Quynh Tran
SJC gold price rose 0.24% to VND69.1 million ($2,823.04) per tael Friday morning.

Gold ring price gained 0.08% to VND56.6 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Globally, gold edged up from seven-month lows on Friday, as the U.S. dollar and bond yields took a breather after scaling new highs this week ahead of U.S. non-farm payrolls data, Reuters reported.

Spot gold rose 0.2% to $1,823.59 per ounce by 0335 GMT, but was on track to extend losses to a second consecutive week, shedding 1.3% so far. U.S. gold futures firmed 0.3% to $1,837.60.

Benchmark U.S. 10-year bond yields pulled back from 16-year peak and the U.S. dollar was off November 2022 highs, but remained on track for 12 straight weeks of gains.

Federal Reserve officials on Thursday indicated little concern that the recent rise in U.S. Treasury yields could imperil a "soft landing" for the economy, and said it could actually help the central bank fight inflation.

go to top