Gold prices reach six-week high

By Dat Nguyen   February 6, 2024 | 09:00 pm PT
Gold prices reach six-week high
A person holds gold jewelry at a shop in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
Saigon Jewelry Company gold bar price rose 0.51% to VND78.85 million ($3,224.29) per tael Wednesday morning, highest since Dec. 27.

Gold ring price went up 0.31% to VND64.6 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Globally gold price ended in the green on Tuesday and snapped a two-day losing streak to over a one-week low, around the $2,015 region touched the previous day, according data platform FXStreet.

The valuable metal finds it difficult to build on its momentum and fluctuates within a tight range during Wednesday's Asian trading session.

Investors are holding off for additional signals regarding the expected speed of interest rate reductions by the Federal Reserve (Fed) this year, which usually influences the outlook for the non-yielding gold.

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