Gold prices decline

By Dat Nguyen   January 14, 2024 | 09:20 pm PT
Gold prices decline
A person holds gold jewelry at a shop in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
Saigon Jewelry Company gold bar price fell 0.65% to VND76.45 million ($3,119.77) per tael Monday morning.

Gold ring price went up 0.71% to VND63.95 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Globally gold price is sitting near the highest level in five days above $2,050 in Asian trading on Monday, helped by a cautiously optimistic market mood, increased US Federal Reserve (Fed) bets for a March rate cut and a US holiday-led thin trading conditions, according to financial data platform FXStreet.

The U.S. dollar is experiencing fluctuations, as U.S. Treasury bond yields remain stagnant due to light trading activity on account of the Martin Luther King Jr. Day holiday in the United States.

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