Gold prices decline

By Dat Nguyen   January 24, 2024 | 09:42 pm PT
Gold prices decline
Gold jewelry on display at a shop in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
Saigon Jewelry Company gold bar price fell 0.26% to VND76.45 million ($3,107.41) per tael Thursday morning.

Gold ring price dropped 0.31% to VND63.9 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Globally ticked higher during the Asian session on Thursday and reverses a part of the previous day's heavy losses to a multi-day low, albeit it lacks bullish conviction, according to financial data platform FXStreet.

Gold was $2015.75 per ounce at 12 p.m., up 0.08% from Wednesday.

The U.S. dollar is having difficulty building on its recent recovery from a more than one-week low, staying below the peak it reached on Tuesday, which was its highest since December 13. This situation, combined with the potential for increased military conflict in the Middle East, appears to be major elements contributing to the support of safe-haven assets like precious metals, it said.

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