Gold prices reach new peak in 2023

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.