Gold prices slip

By Dat Nguyen   June 29, 2023 | 08:01 pm PT
Gold prices slip
A person holds gold jewelry at a shop in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
SJC gold price fell 0.07% to VND67 million ($2,841.39) per tael Friday morning.

Gold ring price was stable at 56.2 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Globally gold held near four-month lows as traders awaited key U.S. inflation numbers later in the day after a slew of strong data prints and hawkish comments from Federal Reserve officials raised bets of more rate hikes, Reuters reported.

Spot gold was steady at $1,907.78 per ounce while U.S. gold futures fell 0.1% to $1,915.80.

A stronger dollar, along with the chance of a recession being slim, was weighing on gold, said Brian Lan, of Singapore dealer GoldSilver Central.

The dollar index was steady near a two-week high hit in the previous session, making gold expensive for holders of other currencies.

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