Gold prices gain little

By Dat Nguyen   February 19, 2024 | 08:54 pm PT
Gold prices gain little
A person arranges gold jewelry at a shop in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
Saigon Jewelry Company gold bar price rose 0.06% on Tuesday morning to VND77.95 million ($3,177.29) per tael.

Gold ring price dropped 0.31% to VND64.5 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Globally gold price moves slightly lower on Tuesday after halting its three-day winning streak, inching lower to near $2,018 per troy ounce during the Asian trading hours, according to financial data platform FXStreet.

The value of gold faces difficulties as the U.S. dollar strengthens, largely due to rising U.S. bond yields.

This increase in bond yields places downward pressure on assets that do not yield, such as gold.

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