Gold prices gain slightly

Gold ring price went up 0.08% to VND62 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Globally, gold price managed to hold above the $2,000 psychological support level during the early Asian session on Thursday, according to financial news platform FXStreet.

The expectation that the Federal Reserve (Fed) might reduce interest rates in March 2024 is providing some backing to gold. Currently, the price of gold stands at $2,025, showing a slight decline of 0.03% for the day.

At the same time, the index measuring the value of the U.S. Dollar against a basket of currencies from major US trading partners is trading positively for the third day in a row, surpassing 104.15. Conversely, US Treasury yields are on a downward trend, with the 10-year yield decreasing from 4.20% to 4.11%.