Gold jewelry seen at a shop in Hanoi. Photo by VnExpress/Giang Huy
Vietnam gold prices fell Thursday morning to the lowest since Jan. 9 amid a decline on global markets.
Saigon Jewelry Company gold bar dropped 1.06% to VND159 million (US$6,039.54) per tael. A tael equals 37.5 grams or 1.2 ounces.
Gold ring went down 0.87% to VND158.8 million per tael. Gold prices in Vietnam have risen 4% so far this year.
Globally gold prices fell to a two-month low on Thursday as fresh U.S. attacks on Iran boosted the dollar and pushed oil prices higher, stoking concerns about rising inflation and clouding the interest rate outlook, Reuters reported.
Spot gold was down 1.1% to $4,406.81 per ounce, falling to its lowest level since March 27. U.S. gold futures for June delivery fell 0.9% to $4,404.90.
“Geopolitical tensions remain high, and we’ve had too many false alarms from the peace deal talks. So I think the U.S. dollar is going to remain bid, and that means gold is likely to remain under pressure,” said Matt Simpson, a senior analyst at StoneX.
Source:e.vnexpress.net
