Gold prices rise slightly

By Minh Hieu March 26, 2024 | 11:24 pm PT

Gold jewelry on display at a shop in Ho Chi Minh City. Photo by VnExpress/Quynh Tran

Saigon Jewelry Company gold bar price rose 0.25% to VND80.5 million ($3,429.77) per tael Tuesday morning.

Gold ring price went up 0.07% to VND69.4 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Globally, gold prices edged lower on Wednesday due to an uptick in the dollar, although bullion traded in a narrow range as investors stayed on the sidelines awaiting more cues on the U.S. Federal Reserve policy, Reuters reported.

Spot gold was down 0.1% at $2,176.29 per ounce. U.S. gold futures also edged 0.1% lower to $2,175.20.

The dollar index strengthened 0.2% against its rivals, making gold more expensive for other currency holders.

SPDR Gold Trust , the world's largest gold-backed exchange-traded fund, said its holdings fell 0.62% to 830.15 tons on Tuesday.

"Aligned with the supported yet more sideways price action, open interest figures show that most of the early March inflows into gold have so far stuck," JP Morgan said in a note.