Gold prices rise to nine-day high

By Dat Nguyen   January 11, 2024 | 09:04 pm PT
Gold prices rise to nine-day high
Gold jewelry on display at a shop in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
Saigon Jewelry Company gold bar price gained 0.26% to VND75.45 million ($3,037.85) per tael Friday morning, highest since Jan. 3.

Gold ring price rose 0.24% to VND63.25 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Globally gold prices rose, supported by a softer dollar and escalating Middle East conflict lifting safe-haven appeal, but were set for a second weekly fall as traders reassessed hopes for early interest rate cuts in the United States, Reuters reported.

Spot gold was up 0.3% at $2,034.06 per ounce, as of 0231 GMT. However, it has fallen 0.6% so far in the week.

U.S. gold futures rose nearly 1% to $2,038.40.

The dollar index fell 0.1%, making bullion more attractive for buyers holding other currencies.

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