Gold prices reach new peak in 2023
In this article (4)
SJC gold price surged 0.36% to VND68.9 million ($2,858.92) per tael Friday morning, a new peak this year.
Gold ring price went up 0.26% to VND57.2 million per tael. A tael equals 37.5 grams or 1.2 ounces.
Globally gold prices firmed on Friday but were set for a weekly decline as the dollar and Treasury yields held firm with strong U.S. economic data raising concerns of the Federal Reserve keeping interest rates higher for longer.
Spot gold was up 0.2% at $1,922.87 per ounce, but set for a 0.8% weekly fall. U.S. gold futures rose 0.2% to $1,946.90.
The dollar was headed for its longest weekly winning streak in nine years, bolstered by a resilient run of U.S. economic data.
Questions & Answers
Q.What was the new peak price for SJC gold in VND and USD on Friday morning?
What was the new peak price for SJC gold in VND and USD on Friday morning?
SJC gold reached VND68.9 million per tael, which equates to $2,858.92. This represented a 0.36% surge, setting a new high for the year.
Q.What was the global price of spot gold on Friday and its weekly performance?
What was the global price of spot gold on Friday and its weekly performance?
Spot gold was up 0.2% at $1,922.87 per ounce on Friday. However, it was anticipated to record a 0.8% decline over the week.
Q.What factors influenced global gold prices and the dollar's performance?
What factors influenced global gold prices and the dollar's performance?
Globally, gold prices firmed due to a strong dollar and Treasury yields. Strong U.S. Economic data raised concerns about the Federal Reserve maintaining higher interest rates, bolstering the dollar for its longest weekly winning streak in nine years.
Reader pulse
How will rising gold prices impact luxury retail?
23,583 votes so far