Gold prices rise
In this article (5)
SJC gold prices increased 0.15% from an 11-week low Tuesday to VND66.7 million ($2,779) per Tuesday Wednesday afternoon.
Gold ring prices dropped 0.19% to VND53.85 million per tael. A tael equals 37.5 grams or 1.2 ounces.
Global spot gold was down 0.3% at $1,807.80 per ounce as the U.S. dollar ticked, but prices moved in a tight range in subdued trading due to the lack of fresh triggers.
Gold is seeing limited price action as trading activity is light ahead of the New Year holiday and there is no major economic data scheduled this week, said Hareesh V., head of commodity research at Geojit Financial Services.
Gold has risen nearly $200 from a more-than-two-year low in late September as the dollar’s appeal was dented by expectations that the U.S. Federal Reserve would slow its pace of interest rate hikes.
Questions & Answers
Q.By how much did SJC gold prices increase and what is their current value?
By how much did SJC gold prices increase and what is their current value?
SJC gold prices increased by 0.15% from an 11-week low. They reached VND66.7 million ($2,779) per tael on Tuesday Wednesday afternoon after this rise.
Q.What is causing the limited price action in gold trading currently?
What is causing the limited price action in gold trading currently?
Limited price action in gold is due to light trading activity ahead of the New Year holiday. There is also no major economic data scheduled for release this week.
Q.What has influenced gold's price increase from its September low?
What has influenced gold's price increase from its September low?
Gold has risen nearly $200 from a more-than-two-year low in late September. This was because the US dollar's appeal lessened due to expectations the Federal Reserve would slow its interest rate hikes.
Q.What is the current status of global spot gold prices?
What is the current status of global spot gold prices?
Global spot gold was down 0.3% at $1,807.80 per ounce, despite the US dollar ticking. Prices moved within a tight range in subdued trading, lacking fresh triggers for significant movement.
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