Gold prices gain

By Hoang Phong   October 8, 2023 | 07:58 pm PT
Gold prices gain
Gold sold at a shop in HCMC. Photo by VnExpress/Quynh Tran
SJC gold price rose 0.5% to VND69.65 million ($2,852.35) per tael on Monday morning.

Gold ring price increased 0.44% to VND57.05 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Globally, gold was also in demand, rising 0.8% to $1,848 an ounce, according to Reuters.

Rising geopolitical risk could see buying in assets like gold and the dollar, and potentially boost demand for U.S. Treasuries, which have been sold off aggressively, analysts said.

The precious metal gained as much as 1.2% in early Asian trading Monday, as markets brace for headwinds and volatility from the shock attack by Gaza militants, Bloomberg reported.

Israel pounded the Palestinian enclave of Gaza on Sunday, killing hundreds of people in retaliation for one of the bloodiest attacks in its history when Islamist group Hamas killed 700 Israelis and abducted dozens more.

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