Monday , May 27 2024

Gold bounces back


Saigon Jewelry Company (SJC) gold price has bounced back from a steep fall Friday morning.

Gold bar price surged 4.05% in more than an hour to VND77 million per tael ($3,171.99) at 12 p.m. It is now 0.65% away from returning to Thursday’s closing price.

Gold bar dipped to VND74 million, lowest in 10 days, at 10:42 a.m.

Gold ring plunged 0.86% to VND63.35 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Globally gold prices hovered around the three-week peak of $2,088 as investors expect more rate cuts by the U.S. Federal Reserve next year, according to Reuters.

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