Gold prices reach new record high of $3,283 per tael

By Dat Nguyen   March 1, 2024 | 09:58 pm PT
Gold prices reach new record high of $3,283 per tael
A person holds gold bars at a shop in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
Saigon Jewelry Company gold bar price reached a new historic peak of VND80.95 million ($3,283.32) per tael Saturday morning, up 1.5% from the previous day.

Gold ring dropped 1.37% to VND66.5 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Globally gold started March on a positive note, with prices rising to a two-month high on Friday after muted economic data hardened expectations of a U.S. interest rate cut by June, Reuters reported.

Spot gold rose 2.1% to $2,086.21 per ounce, the highest since late December, and was on track for a second straight weekly rise.

U.S. gold futures settled about 2% higher at $2,095.7.

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