Gold prices fall

By Dat Nguyen   April 26, 2023 | 01:11 am PT
Gold prices fall
Gold jewelry is seen at a shop in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
SJC gold price dropped 0.15% to VND67.05 million ($2,855.93) per tael Wednesday morning.

Gold ring price remained stable at VND56.8 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Globally, gold traded in a narrow range on Wednesday, with a subdued dollar and recessionary fears lending some support to the safe-haven asset, while investors sought more clarity on the Federal Reserve's rate-hike trajectory from upcoming U.S. economic data.

Spot gold held steady at $1,998.50 per ounce by 0724 GMT, trading in a $9 range, while U.S. gold futures ticked 0.1% higher to $2,007.40 per ounce.

Investors seemed reluctant to offload their gold holdings amid weak U.S. economic data.

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