Gold prices gain

By Dat Nguyen   July 31, 2023 | 08:57 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 rose 0.07% to VND67.3 million ($2,842.84) per tael Tuesday morning.

Gold ring price went up 0.09% to VND57.1 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Globally gold prices edged lower on Tuesday as the U.S. dollar climbed, while investors looked forward to key economic data this week for signs on how long the interest rates could keep rising to quell sticky inflation, Reuters reported.

Spot gold was down 0.1% at $1,961.49 per ounce while U.S. gold futures dropped 0.5% to $1,961.10 per ounce.

Gold prices ended July 2.3% higher, the biggest monthly rise in four months on expectations that an end to the rate-hiking cycle by global central banks was nearing. Lower rates boost demand for zero-yield bullion.

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