Gold prices reach new record

By Dat Nguyen   May 6, 2024 | 07:42 pm PT
Gold prices reach new record
A person holds gold jewelry at a shop in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
Saigon Jewelry Company gold price surged 1.16% to VND87.5 million ($3,445.22) per tael Tuesday morning, a new peak.

Gold ring price gained 0.20% to VND75.2 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Globally gold inched down 0.05% to $2,322.00 per ounce as of 10:15 a.m.

George Milling-Stanley, Chief Gold Strategist at State Street Global Advisors, said that the gold market could see some volatility after last week’s monetary policy decision created some confusion in the marketplace.

"There's a very good possibility, given that historically, the kind of macroeconomic and geopolitical background that we're experiencing right now has always been very favorable for gold," George Milling-Stanley, chief gold strategist at State Street Global Advisors, told Kitco News.

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