Gold prices tiptoe up

Gold ring price gained 0.09% to VND55.9 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Globally gold prices edged down on Monday as a steady U.S. dollar made bullion less affordable for overseas buyers, while authorities attempted to assuage investor fears over a potential liquidity crisis in the global banking sector, Reuters reported.

Spot gold was down 0.1% at $1,975.76 per ounce. U.S. gold futures fell 0.3% to $1,977.20.

The dollar index edged up 0.1%.

Calming nerves were reports that First Citizens BancShares Inc was in advanced talks to acquire Silicon Valley Bank.

Recent stress in the banking sector and the possibility of a follow-on credit crunch brings the United States closer to recession, Minneapolis U.S. Federal Reserve President Neel Kashkari said on Sunday.