Gold prices rise
Vietnam gold bar prices climbed on Friday morning as the metal was heading for its third weekly gain on the global market.
Gold prices surged higher, with local jewelry company rates climbing 0.41% to VND146.6 million per tael. Gold rings also saw a 0.41% increase to VND146.1 million per tael. The disparity between local and global rates narrowed to just VND2.8 million per tael, down from the VND15-20 million range early in the year. Globally, gold prices saw a 0.5% rise, touching $4,540.18 per ounce after reaching a peak since early June.
This upward trend was fueled by a weaker dollar, U.S. Treasury bond buybacks, and a notable shift in yields. Analyst Brian Lan noted that the Federal Reserve's future policies and market expectation implications would heavily influence gold's future. While traditionally viewed as an inflation hedge, higher interest rates could diminish gold's appeal due to its non-income-generating nature.
Written by urgent.news from VnExpress Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
