Thursday , November 21 2024

Gold ring price increases


Saigon Jewelry Company gold ring price rose 0.39% to VND77.3 million (US$3,058.24) per tael Wednesday morning.

Gold bar price was unchanged at VND79 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Globally, gold price attracts some dip-buying following an intraday dip to the $2,400 neighborhood and turns positive for the second straight day on Wednesday, FXStreet reported.

The move up for the third day in the previous four is sponsored by a combination of factors and lifts the commodity to a one-week peak, around the $2,419 region during the Asian session.

The Israeli attack on the Lebanon capital as retaliation for a rocket strike in the Golan Heights on Saturday raised the risk of a further escalation of geopolitical tensions in the Middle East.

Apart from this, a sluggish global economic growth outlook and a further U.S. Dollar pullback from a nearly three-week high touched on Tuesday benefit the gold price.

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