Gold price jumps up
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SJC gold price rose 0.15% to VND67.75 million ($2,844.25) per tael Wednesday morning, highest since Jan. 28.
Gold ring price was stable at VND56.85 million per tael. A tael equals 37.5 grams or 1.2 ounces.
Spot gold was up 0.2% at $1,900.30 per ounce, while U.S. gold futures rose 0.2% to $1,929.40.
The dollar index was sitting below two-month highs, while a rally that took U.S. Treasury yields to nearly 16-year highs took a pause, giving some respite to gold that does not yield any interest.
Questions & Answers
Q.What was the highest price SJC gold has reached since January 28th?
What was the highest price SJC gold has reached since January 28th?
SJC gold reached VND67.75 million per tael on Wednesday morning, which is equivalent to $2,844.25. This marks its highest price point since January 28th, reflecting a significant increase.
Q.How does the recent pause in the U.S. Treasury yields rally affect gold?
How does the recent pause in the U.S. Treasury yields rally affect gold?
The pause in the U.S. Treasury yields rally provides some relief to gold. Gold does not generate interest, so a halt in the rise of interest-bearing assets like Treasury yields makes it a relatively more appealing investment.
Q.What is the current price of spot gold and U.S. Gold futures?
What is the current price of spot gold and U.S. Gold futures?
Spot gold is currently priced at $1,900.30 per ounce, showing a 0.2% increase. Meanwhile, U.S. Gold futures have risen by 0.2% to reach $1,929.40, indicating a similar upward trend.
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Will gold's rally continue?
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