Gold prices gain

Jan 24, 2024Updated May 16, 20251 min read

Saigon Jewelry Company gold bar price went up 0.26% to VND76.65 million ($3,113.95) per tael Wednesday morning.

Gold ring price was stable at VND64.05 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Globally gold prices inched lower on Wednesday, as hawkish comments from Federal Reserve officials and strong U.S. data doused hopes for early interest rate cuts, while investors awaited a slew of economic reports this week for more clarity on rate trajectory.

Spot gold fell 0.2% to $2,024.46 per ounce. U.S. gold futures were unchanged at $2,025.50.

“Recent economic data out of the U.S. has called for some recalibration in dovish market rate expectations, with some pushback on the timeline for Fed rate cut weighing on gold’s appeal,” said IG market strategist Yeap Jun Rong.

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Mei Ling Tan

Contributor · RetailNews.asia

Mei Ling Tan is the Editor of Retail News Asia, where she leads the editorial team in delivering in-depth coverage of Asia’s dynamic retail landscape. With over a decade of experience in business journalism, Mei Ling is known for her sharp analysis, deep industry insights, and commitment to uncovering the stories behind Asia’s most innovative retail brands. Before joining Retail News Asia, Mei Ling held senior reporting roles at regional business publications, covering everything from consumer trends to digital transformation in retail. A graduate of the National University of Singapore with a degree in Communications and New Media, she combines journalistic integrity with a strong understanding of evolving market forces. Outside the newsroom, Mei Ling is a frequent speaker at industry panels and a mentor for young journalists.

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