Gold prices firm after steep fall

By Dat Nguyen   March 22, 2024 | 10:02 pm PT
Gold prices firm after steep fall
A person holds gold jewelry at a shop in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
Saigon Jewelry Company gold bar price rose 0.50% to VND80.1 million ($1,792.07) per tael Saturday morning.

It plunged 2.45% to a three-week low of VND79.7 million on Friday.

Gold ring price was steady at VND69.1 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Gold dipped on Friday as the dollar strengthened, but was on track for a weekly gain after rallying to a record high in the previous session in the wake of the U.S. Federal Reserve’s rate cut plans, according to CNBC.

Spot gold was down 0.7% at $2,166.57 per ounce. Prices hit a record high on Thursday after the Federal Reserve indicated it still intended to cut rates three times this year.

U.S. gold futures settled 1.1% lower at $2,160.

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