Gold prices gain

By Dat Nguyen   May 12, 2023 | 10:32 pm PT
Gold prices gain
A person holds gold jewelry at a shop in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
SJC gold price gains 0.15% to VND67.25 million ($2,866.59) per tael Saturday morning.

Gold ring price remained steady at VND57.35 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Globally gold prices fell to a one-week low on Friday, and are on track for a weekly dip, weighed down by a stronger dollar and an uptick in U.S. bond yields, Reuters reported.

Spot gold was 0.3% lower at $2,010.57 per ounce after falling as much as 0.7% earlier in the session.

U.S. gold futures fell 0.2% to $2,015.80.

The dollar rose to one-month peak and is heading for its biggest weekly gain since February, making bullion less attractive for buyers holding other currencies.

Higher 10-year Treasury yields further dimmed zero-interest bullion’s appeal.

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