Gold ticks down

By Dat Nguyen   May 25, 2023 | 08:03 pm PT
Gold ticks down
Gold jewelry on display at a shop in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
SJC gold price fell 0.15% to VND67 million ($2,853.74) per tael Friday morning.

Gold ring price lost 0.26% to VND56.5 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Globally gold prices languished near a two-month low on Friday and were set for their third straight weekly fall, as progress in U.S. deal ceiling negotiations bolstered the dollar, Reuters reported.

Spot gold was flat at $1,939.18 per ounce after hitting its lowest since March 22 in the previous session. U.S. gold futures were down 0.2% at $1,939.60.

Bullion has declined 1.9% so far in the week in what could be its biggest since early February.

The dollar held close to its highest since March 17, making gold less attractive for overseas buyers, while benchmark Treasury yields were also near highs seen in March.

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