Saigon Jewelry Company witnessed a 0.38% increase in the price of its gold bars, reaching VND78.45 million ($3,198.12) per tael on Wednesday morning. Simultaneously, the gold ring price experienced a 0.08% uptick, reaching VND64.55 million per tael. It’s important to note that one tael is equivalent to 37.5 grams or 1.2 ounces.
The price trend for SJC gold is as follows:
- 15/12/2023: Price – VND74.5 million
On the global front, the price of gold saw a 0.31% surge, reaching $2,030.74 per ounce on Wednesday. This marks the fifth consecutive day of gains for the precious metal. The positive momentum in the global gold market is attributed to China’s decision to lower interest rates, coupled with a decline in U.S. Treasury bond yields, according to insights from FXStreet.
Recent data from the U.S., particularly the Consumer Price Index and the Producer Price Index surpassing estimates, has heightened concerns about persistent inflation. This factor has contributed to the overall positive trajectory in the global gold market. The combination of these elements underscores the dynamic nature of gold prices and their responsiveness to both domestic and international economic factors.
