Gold prices decline

By Dat Nguyen   July 20, 2023 | 06:44 pm PT
Gold prices decline
Gold bars seen at a shop in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
SJC gold price fell 0.07% to VND67.15 million ($2,838.90) per tael Friday morning.

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

Globally gold prices climbed on Friday as a weaker dollar made bullion cheaper for holders of other currencies, while the metal was poised for a third consecutive weekly gain on hopes that the U.S. Federal Reserve will pause rate hikes after July, Reuters reported.

Spot gold rose 0.1% to $1,971.79 per ounce. Bullion gained nearly 1% so far this week.

U.S. gold futures gained 0.2% to $1,973.80.

The metal slipped on Thursday from a two-month high as the dollar and bond yields climbed on stronger-than-expected U.S. labour market data.

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