Gold prices reach 10-month high

By Ngan Anh October 11, 2023 | 06:47 pm PT

An employee places ingots of 99.99 percent pure gold in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. Photo by Reuters

SJC gold price went up 0.43% to VND70.05 million ($2,865.61) per tael Thursday morning, highest since the beginning of this year.

Gold ring price shot up 0.35% to VND57.5 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Globally, gold held firm near two-week highs on Thursday, as the U.S. dollar and Treasury yields stumbled on the Federal Reserve’s cautious approach on interest rates and ahead of a key inflation report that could offer more clarity on future policy path, according to Reuters.

Spot gold was up 0.1% at $1,874.49 per ounce by 0110 GMT, hovering near Wednesday’s highest level since Sept. 29. U.S. gold futures were steady at $1,887.50.

SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, said its holdings rose 0.10% on Wednesday.