Gold Prices Increase

The price of gold at Saigon Jewelry Company went up by 0.41% to VND147 million. This is the same as US$5,581.71 per tael. The price of gold is rising.

The price of gold in Vietnam is higher than in other countries. It is VND14.8 million more per tael than the global price.

The price of a gold ring also went up to VND146 million per tael. One tael of gold is equal to 37.5 grams or 1.2 ounces. Gold prices are increasing.

Gold prices rose around the world on Wednesday. This happened because investors were buying gold and waiting to see what the US Federal Reserve would do next week.

The price of gold went up by 1.6% to $4,139.64 per ounce. It was the highest price since July 7. The price of gold for August delivery also went up by 1.7%.

There are gold bars at a store in Ho Chi Minh City.

Some people are buying gold because they think it is a good value. They also hope that the US and Iran can make peace, which would help the price of gold.

The conflict between the US and Iran stopped gold's long increase in price. Now, the price of gold is about 25% lower than its peak in January.

Traders are thinking about how higher energy costs and slower US economic growth will affect the interest rate. If interest rates are high, it costs more to hold gold.

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