Gold prices gain

By Dat Nguyen   November 24, 2023 | 02:15 am PT
Gold prices gain
A person touches gold jewelry at a shop in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
SJC gold price gained 0.28% to VND71.8 million ($2,957.54) per tael Friday afternoon.

Gold ring price gained 0.41% to VND61.2 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Globally, gold held steady on Friday, set for its second consecutive weekly gain, supported by a weaker U.S. dollar as markets grew confident that the Federal Reserve was done with its interest rate hikes, Reuters reported.

Spot gold held ground at $1,992.73 per ounce. Bullion has risen 0.7% this week. U.S. gold futures were little changed at $1,993.60.

The dollar index was on track for a second weekly drop, making gold less expensive for other currency holders.

Markets have dialled back expectations of Fed rate cuts in 2024 after data showed number of Americans filing new claims for unemployment benefits fell more than expected last week.

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