Gold prices rise marginally

By Dat Nguyen   August 30, 2023 | 07:09 pm PT
Gold prices rise marginally
A person holds gold jewelry at a shop in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
SJC gold price gained 0.07% to VND68.15 million ($2,827.80) per tael Thursday morning.

Gold ring price went up 0.26% to VND57.2 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Globally gold prices firmed on Thursday as a fresh set of soft U.S. economic data added to expectations that the Federal Reserve will pause rake hikes this year, although a surge in Treasury yields and dollar kept bullion on track for a monthly loss, Reuters reported.

Spot gold was up 0.2% at $1,946.17 per ounce, trading close to a one-month high hit on Wednesday. U.S. gold futures steadied at $1,973.10.

Bullion is on track for a nearly 1% monthly decline as the U.S. dollar eyes its first monthly rise in three and U.S. Treasury yields see their fourth consecutive monthly climb having reached 2007 levels last week.

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