Friday , July 12 2024

Gold prices climb

Saigon Jewelry Company gold bar price gained 0.27% to VND74.65 million ($3,049.43) per tael Thursday morning.

Gold ring price was steady at VND63.05 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Globally gold eked out gains on Thursday, as the dollar extended its retreat ahead of a U.S. inflation report later in the day that could offer more clarity on the Federal Reserve’s monetary policy outlook this year, Reuters reported.

Spot gold was up 0.3% at $2,028.78 per ounce. U.S. gold futures also rose 0.3% to $2,033.00.

“U.S. CPI looming, (gold) bears may be taking a cautious approach and lightening their load ahead of the event,” said Matt Simpson, a senior analyst at City Index.

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