Gold prices dive post-holiday

By Dat Nguyen   February 14, 2024 | 09:00 pm PT
Gold prices dive post-holiday
A person arranges gold jewelry at a shop in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
Saigon Jewelry Company gold bar prices on Thursday plunged 1.01% to VND78.05 million ($3,192.88) per tael after the seven-day Lunar New Year holiday.

Gold ring price was steady at VND64.6 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Globally gold prices fell below the key $2,000 per ounce level to a two-month low on Wednesday, as a stronger-than-expected U.S. inflation report tempered prospects of an early interest rate cut from the Federal Reserve.

Spot gold was at $1,991.50 at 11.37 a.m., down 0.04% for the day to the lowest since Dec. 12.

U.S. gold futures settled 1.3% lower to $2007.2.

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