Gold prices reach new height in 2023

By Dat Nguyen   November 20, 2023 | 09:05 pm PT
Gold prices reach new height in 2023
A person arranges gold jewelry at a shop in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
SJC gold price rose to another height this year at VND71.1 million ($2,948.99) per tael, up 0.35% from Monday.

Gold ring price went up 0.33% to VND60.35 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Globally, gold prices rose on Tuesday, supported by a weaker U.S. dollar and Treasury yields as investors look forward to minutes from the Federal Reserve's latest meeting for more guidance on its interest rate outlook, Reuters reported.

Spot gold was up 0.6% at $1,988.29 per ounce. U.S. gold futures gained 0.5% to $1,990.10.

"The dollar and the U.S. bond yields continue to come down. Demand from central banks is also quite strong. All these are bullish for gold. The market is reconsidering that drop we saw yesterday," said Edward Meir, a metals analyst who provides research for Marex.

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