Gold prices gain
In this article (5)
SJC gold price gained 0.07% to VND67.2 million ($2,863.23) per tael Thursday morning.
Gold ring price went up 0.09% to VND56.9 million per tael. A tael equals 37.5 grams or 1.2 ounces.
Globally gold prices rose on a softer dollar, while investors braced for a host of U.S. economic data ahead of a crucial Federal Reserve’s policy meeting next week.
Spot gold rose 0.4% to $1,996.50 per ounce while U.S. gold futures climbed 0.5% to $2,005.20.
Making bullion less expensive for other currencies holders, the dollar index eased 0.1% on the day.
Gold is treading waters right now, as investors keep an eye on U.S. debt ceiling talks, and the Fed meeting next, that could offer some ideas on what to expect for the rest of the year, said Edward Meir, a metals analyst at Marex.
Questions & Answers
Q.What was the SJC gold price in Vietnam on Thursday morning?
What was the SJC gold price in Vietnam on Thursday morning?
The SJC gold price in Vietnam was VND67.2 million per tael on Thursday morning. This represented a gain of 0.07% from its previous level. One tael is equivalent to 37.5 grams or 1.2 ounces.
Q.Why did global gold prices rise on Thursday?
Why did global gold prices rise on Thursday?
Global gold prices rose due to a softer dollar, which makes gold less expensive for holders of other currencies. Investors were also preparing for upcoming U.S. Economic data and a crucial Federal Reserve policy meeting next week.
Q.What factors are currently influencing the gold market, according to the metals analyst?
What factors are currently influencing the gold market, according to the metals analyst?
According to metals analyst Edward Meir, gold is currently treading waters. Investors are monitoring U.S. Debt ceiling talks and the upcoming Federal Reserve meeting, as these events could provide insight into market expectations for the rest of the year.
Q.How much did spot gold and U.S. Gold futures increase globally?
How much did spot gold and U.S. Gold futures increase globally?
Globally, spot gold rose by 0.4% to reach $1,996.50 per ounce. U.S. Gold futures also saw an increase, climbing 0.5% to a price of $2,005.20.
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