Friday , June 21 2024

Gold rises to 4-week high


SJC gold price rose 0.07% to VND67.2 million ($2,855.33) per tael Friday morning, highest since May 22.

Gold ring price gained 0.35% to VND56.6 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Globally gold held steady in early Asian trading on Friday, supported by a relatively weaker dollar as investors digested a host of U.S. economic data and the Federal Reserve’s “hawkish pause” on interest rate hikes, Reuters reported.

Spot gold was flat at $1,959.03 per ounce. U.S. gold futures too were little changed at $1,971.50.

Bullion fell to a three-month low on Thursday, but erased the losses to end higher after U.S. economic data offered some respite from a ‘hawkish pause’ on interest rates by the Federal Reserve.

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