Gold prices gain
In this article (5)
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.
Questions & Answers
Q.How much did Saigon Jewelry Company's gold bar price increase on Wednesday?
How much did Saigon Jewelry Company's gold bar price increase on Wednesday?
Saigon Jewelry Company's gold bar price increased by 0.26% on Wednesday morning. This brought its price to VND76.65 million ($3,113.95) per tael.
Q.Why did global gold prices decrease on Wednesday?
Why did global gold prices decrease on Wednesday?
Global gold prices inched lower on Wednesday due to hawkish comments from Federal Reserve officials and strong U.S. Data. This doused hopes for early interest rate cuts, affecting gold's appeal.
Q.What is the equivalent weight of a tael mentioned in the article?
What is the equivalent weight of a tael mentioned in the article?
According to the article, a tael is equal to 37.5 grams. This also translates to 1.2 ounces in weight.
Q.What was the global spot gold price on Wednesday?
What was the global spot gold price on Wednesday?
Globally, spot gold fell 0.2% on Wednesday. Its price was reported at $2,024.46 per ounce.
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