Gold prices rise

By Dat Nguyen   April 20, 2023 | 08:47 pm PT
Gold prices rise
A person holds gold bar at a shop in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
Gold price gained 0.07% to VND67.05 million ($2,854.10) per tael Friday morning.

Gold ring price rose 0.18% to VND56.9 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Globally gold prices drifted lower on Friday as the dollar steadied, although soft U.S. economic data reinforced expectations that the Federal Reserve would pause its tightening cycle after delivering one more rate hike next month, Reuters reported.

Spot gold was down 0.1% at $2,001.75 per ounce after rising 1% on Thursday. U.S. gold futures fell 0.3% to $2,013.70.

Gold prices have been moderating in the absence of real incoming news flow and "we really need to see some bigger pieces of information to give it that directional conviction", said Ilya Spivak, head of global macro at Tastylive.

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