Gold Prices Go Up

The price of a gold bar from Saigon Jewelry Company went up 0.36% to VND141 million. This is about US$5,367.84 per tael. The price change happened recently.

Local gold prices are higher than global prices by about VND9 million per tael.

The price of a gold ring also increased by 0.36% to VND140.5 million per tael. One tael is equal to 37.5 grams or 1.2 ounces. Gold prices are changing. People are watching these changes. Gold is a valuable metal.

Globally, the price of gold went up for the third time in a row on Wednesday. This happened because the dollar was weaker and oil prices were lower. Investors are waiting for news about US jobs to understand what might happen with interest rates.

The price of gold that can be bought immediately went up by 1.3% to $4,127.04 per ounce. US gold futures also rose by 0.8% to $4,184.40. These are significant changes.

The US dollar is not strong, making gold more attractive to people who use other currencies. Oil prices stopped falling after two days of big decreases.

A market analyst named Kelvin Wong said that gold and oil are connected. Oil prices can affect the global economy and cause inflation. If there is less tension, gold prices might go up.

Analysts at TD Securities wrote that they think gold prices will stay around the current level.

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