Gold jewelry seen in a shop in Hanoi. Photo by VnExpress/Giang Huy
Vietnam gold prices rose Saturday morning amid an increase of the precious metal’s value on global markets.
Saigon Jewelry Company gold bar went up 0.71% to VND141.5 million (US$5,376.14) per tael. A tael equals 37.5 grams or 1.2 ounces.
Gold ring added 0.07% to VND142.7 million per tael. Gold prices in Vietnam have fallen 7.4% so far this year.
Globally gold edged up on Friday as Brent crude retreated from above $100 a barrel, while investors assessed developments in the Middle East conflict and their implications for inflation ahead of the U.S. interest rate decision next week, Reuters reported.
Spot gold was up 0.1% at $4,052.78, after falling about 2% in the previous session. Prices were up 0.9% for the week so far, supported by dip-buying earlier in the week.
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