Vietnam gold price’s rally continues as global rates jump
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Gold prices in Vietnam continued to rise Tuesday as global rates surged to a one-week high.
Saigon Jewelry Company gold bar price went up 1.19% to VND85 million (US$3,345.80) per tael.
Gold ring gained 1.08% to VND84 million per tael. A tael equals 37.5 grams or 1.2 ounces.
Globally gold prices climbed to a one-week high on Tuesday, buoyed by a softer U.S. dollar, while the market awaited comments from Federal Reserve officials for cues on the U.S. interest rate outlook, Reuters reported.
Spot gold rose 0.4% to $2,623.54 per ounce, the highest since Nov. 12. Prices rose 2% on Monday.
U.S. gold futures gained 0.5% to $2,627.60.
Questions & Answers
Q.What was the price of a Saigon Jewelry Company gold bar in Vietnamese Dong?
What was the price of a Saigon Jewelry Company gold bar in Vietnamese Dong?
A Saigon Jewelry Company gold bar increased by 1.19% to VND85 million per tael on Tuesday. This price is equivalent to US$3,345.80.
Q.What caused the global gold price increase mentioned in the article?
What caused the global gold price increase mentioned in the article?
Global gold prices climbed to a one-week high, primarily buoyed by a softer U.S. Dollar. The market is also awaiting comments from Federal Reserve officials for hints on the U.S. Interest rate outlook.
Q.What was the global spot gold price per ounce at its highest point?
What was the global spot gold price per ounce at its highest point?
Global spot gold rose 0.4% to $2,623.54 per ounce on Tuesday. This figure represents the highest price since November 12, following a 2% rise on Monday.
Q.How much does a tael of gold weigh in grams and ounces?
How much does a tael of gold weigh in grams and ounces?
A tael of gold is equivalent to 37.5 grams. In ounces, one tael weighs 1.2 ounces. This measurement is used for gold pricing in Vietnam.
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