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Gold prices rise

By Ngan Anh   August 6, 2023 | 08:12 pm PT Google Get VnExpress first in Google Search info See more of the news you trust. Make VnExpress a preferred source to prioritise our updates in your Google search results
Gold prices rise
Ingots of 99.99 percent pure gold are placed in a workroom at Krastsvetmet precious metals plant in the Siberian city of Krasnoyarsk, Russia, January 31, 2023. Photo by Reuters
SJC gold price increased 0.07% to VND67.35 million ($2,843.57) per tael Monday morning.

Gold ring price downed 0.08% to VND57.05 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Gold prices were off three-week lows on Monday after slowing U.S. job growth knocked the dollar and bond yields from their recent highs, while investors braced for this week’s inflation test that could influence the Federal Reserve’s policy path.

Spot gold was steady at $1,940.99 per ounce by 0325 GMT, having slid to its lowest since July 11 on Friday before settling 0.4% higher. U.S. gold futures were flat at $1,976.10, according to Reuters.

"While a softer U.S. dollar and lower bond yields in its (jobs data) aftermath have provided some relief for gold... it may have to take a more significant weakening in the U.S. dollar to bring traction for the yellow metal," said Yeap Jun Rong, a market strategist at IG.

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