Gold prices increase
In this article (5)
SJC gold price gained 0.15% to VND67.1 million ($2,857.39) per tael Monday afternoon.
Gold ring price rose 0.18% to VND56.65 million per tael. A tael equals 37.5 grams or 1.2 ounces.
Globally gold rose on Monday as the dollar eased slightly. Still, prices were off one-year highs hit last week, as mixed economic data prompted investors to reassess the U.S. Federal Reserve’s interest rate hike trajectory.
Spot gold was up 0.5% at $2,012.62 per ounce. U.S. gold futures rose 0.4% to $2,024.70.
The dollar index was 0.1% lower, making bullion cheaper for overseas buyers.
Gold is likely to trade with “positive bias but can see some initial correction…a major downfall” in prices is not expected as uncertain global economic and geopolitical tensions support its safe-haven status, said Hareesh V, commodity research head, Geojit Financial Services.
Questions & Answers
Q.What was the price of SJC gold on Monday afternoon?
What was the price of SJC gold on Monday afternoon?
SJC gold price increased to VND67.1 million per tael, which is equivalent to $2,857.39. This represents a gain of 0.15%.
Q.How much did gold ring prices rise?
How much did gold ring prices rise?
Gold ring prices increased by 0.18% to VND56.65 million per tael. This is distinct from SJC gold prices mentioned in the article.
Q.Why did global gold prices increase on Monday?
Why did global gold prices increase on Monday?
Global gold prices rose on Monday because the dollar eased slightly, making bullion more affordable for international buyers. Spot gold was up 0.5%.
Q.What is the outlook for gold prices according to experts?
What is the outlook for gold prices according to experts?
Gold is expected to trade with a positive bias, though some initial correction is possible. A major downfall in prices is not anticipated due to ongoing global economic and geopolitical tensions supporting its safe-haven status.