Customers look at gold jewelry at a shop in HCMC. Photo by VnExpress/Thanh Tung
Vietnam gold prices edged up Tuesday afternoon, a slight recovery from a two-week downward trend.
Saigon Jewelry Company gold bar went up 0.27% to VND146.4 million (US$ 5,562.85) per tael. A tael equals 37.5 grams or 1.2 ounces.
Gold ring was steady at VND146.4 million per tael. Gold prices in Vietnam have fallen 4.2% so far this year.
Globally gold prices rose more than 1% on Tuesday as investors weighed diplomatic efforts to ease the U.S.-Iran conflict, which could temper oil-driven inflation risks and influence the U.S. Federal Reserve’s interest rate path, Reuters reported.
Spot gold rose 1.6% to $4,071.59 per ounce. U.S. gold futures for August delivery were up 1.5% at $4,076.00.
“It looks like gold is trying to find a base somewhere around this ($4,000) level and is going to try to re-engage the upside from there,” said Ilya Spivak, head of global macro at Tastylive.
“These headlines from the Middle East seem to have some degree of knock-on, though it is increasingly only being paid attention to in a passing kind of way.”
Sourcee.vnexpress.net
