A person holds gold jewelry at a store in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
The SJC gold price on Tuesday rose 0.27 percent to VND74.6 million ($3,061.77) per tael, returning to the all-time high set on November 29.
The price of the gold ring increased by 0.08 percent to 62 million VND ($2,544.63) per tael. One tael is equal to 37.5 grams or 1.2 ounces.
The price of gold bars rose to VND74.6 million per tael on the morning of November 29, but plunged in the afternoon. The previous high reached was VND74.4 million in March last year.
Globally, gold prices fell slightly on Tuesday as investors awaited more U.S. economic data this week that could shed light on the Federal Reserve’s monetary policy outlook. Reuters reported.
Spot gold fell 0.1% to $2,024.49 an ounce. U.S. gold futures fell 0.1% to $2,038.
“Things are slowing down for the end of the year, but the outlook for Fed policy will have to be kept in mind,” said Ilya Spivak, head of global macro at Tastylive.
“Expectations are quite high at this stage regarding rate cuts next year. We need to see if the market still has the possibility to continue moving on this path in the short term.”
