GOLD NEWS

Gold ring price inches down, bullion stable as global values hold firm

Sun Aug 11 2024

Saigon Jewelry Company gold ring price fell 0.06% to VND77.55 million (US$3,091.49) per tael Monday morning.  Gold bar price was unchanged at VND78.5 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Globally, gold price struggles to capitalize on its gains registered over the past two days and oscillates in a narrow trading band during the Asian session on Monday, FXStreet reported. A generally positive tone around the equity markets is seen acting as a headwind for the safe-haven precious metal, though a combination of factors should help limit any meaningful downside.

The risk of a further escalation of geopolitical tensions in the Middle East should keep a lid on any optimism in the markets. Furthermore, dovish Federal Reserve (Fed) expectations keep the U.S. dollar bulls on the defensive and should offer support to the non-yielding yellow metal.

Gold held at $2,424 an ounce on Monday, after dipping slightly last week, according to Reuters.

Source: https://e.vnexpress.net/